XRP’s recent rally attempt fell short after the altcoin failed to break out of its descending wedge pattern. The cryptocurrency’s price is now stagnating, with whale activity suggesting waning confidence among large holders.
As XRP struggles to regain momentum, investor sentiment continues to weaken amid persistent market uncertainty.
SponsoredXRP Holders Sell
XRP whales have been offloading their holdings over the past several days, contributing to the price slowdown. Addresses holding between 100,000 and 1 million XRP have sold more than 100 million tokens in just 10 days, signaling a noticeable decline in conviction among major investors.
This $300 million sell-off has brought whale holdings to their lowest level in nearly 34 months. Such a sharp reduction in supply from large holders reflects growing hesitation about XRP’s short-term potential.
The drop in accumulation suggests that many whales are seeking safety, anticipating further price corrections.
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On-chain data reinforces this bearish trend. The Realized Profit/Loss Ratio has surged to a two-month high, indicating that investors are selling into strength rather than accumulating.
SponsoredThis spike suggests that market participants are capitalizing on recent upticks, expecting limited upside in the near term.
The rise in the ratio also highlights prevailing bearish sentiment. With profit-taking accelerating, XRP’s market structure appears fragile. Unless renewed buying pressure emerges soon, the continued selling could maintain downward pressure on the token’s price, delaying any significant recovery attempts.
XRP Price Fails Breakout
At the time of writing, XRP is trading at $2.94, attempting to hold this level as a support floor. The drop followed the failed breakout from the descending wedge. The altcoin initially showed signs of potential bullish continuation but ultimately lacked the momentum to sustain it.
Given the current conditions, XRP could face additional downside pressure. A continued decline may send the token toward $2.85 or even lower if bearish sentiment persists. Such movement would likely trigger further selling among short-term traders.
However, an improvement in overall market conditions could revive optimism. If XRP manages to breach $3.12, it could target $3.27 in the short term. A confirmed breakout could trigger a 19% rally, sending the price to $3.61 and invalidating the bearish thesis.
