XRP slips further to $2.84 after whales offload 470 million tokens, sparking fears of a deeper market correction.
Key Takeaways
- 1Whales sold 470 million XRP in just 10 days, adding major downward pressure to the market.
- 2Despite selling, some whales accumulated $360 million worth of XRP during previous dips.
- 3Analysts warn XRP could test $2.70 support if bearish momentum continues.
- 4XRP dropped below $3 and is now trading at $2.84, down 5.5% in the last 24 hours.
What Happened?
Over the past ten days, XRP has seen a heavy wave of sell-offs, with whale wallets offloading 470 million tokens. This sudden liquidation has pushed the price of XRP down to $2.84, marking a 5.5% decline in the last 24 hours and over 17% loss over the past month. The sell-off has left the market teetering near key support levels and raised concerns about a deeper correction.
Whale Activity Intensifies Market Pressure
The downturn began as large XRP holders, particularly those with wallets holding 10 million to 100 million tokens, began offloading significant volumes. According to analyst Ali Martinez, these whales have aggressively reduced their balances, now totaling around 7.63 billion XRP, after a sharp drop over the last week and a half.
470 million $XRP sold by whales in the last 10 days! pic.twitter.com/Zc24I9omjg
— Ali (@ali_charts) August 20, 2025
- At least 470 million XRP sold by whales since early August
- Massive inflows into Binance, with one-day transfers exceeding 100 million XRP
- Another 11.8 million XRP moved to Binance just before the most recent price dip
While much of the focus is on the selling pressure, whales have not entirely exited the market. On earlier dips, these same wallets accumulated over $360 million in XRP, with a three-day buying spree totaling nearly 320 million tokens, hinting at strategic positioning during volatility.
Price Levels and Technical Outlook
XRP’s price trajectory has been volatile since hitting an all-time high of $3.65 in July. Now trading at $2.84, the token is facing serious technical challenges.
- Key short- and mid-term moving averages are showing bearish patterns
- MACD indicators flash sell signals, while RSI hovers at 42, indicating neutral momentum
- Price must hold the $2.78 to $2.98 range to avoid steeper losses
- If the trend continues, support at $2.70 or even $2.50 could be tested
- For recovery, bulls must push XRP back above $3.00 to $3.19
Legal Clarity but Market Uncertainty
Despite Ripple achieving long-awaited legal clarity following its resolution with the US SEC, the positive momentum has not carried over into recent price action. Much of the optimism appears priced in, especially as macroeconomic uncertainty looms. Traders are also eyeing Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, expecting policy cues that could sway crypto markets more broadly.
CoinLaw’s Takeaway
I’ve seen this pattern before: a token rallies hard, then whales take profits, and everyone starts asking if the run is over. Right now, XRP is caught in a classic post-hype cooldown, amplified by massive whale activity. In my experience, when whales start cashing out in bulk, it’s often smart money securing profits, not necessarily a signal that the token is doomed.
What matters now is how quickly the market digests this sell-off. If accumulation resumes and support holds above $2.70, XRP could stabilize and regain investor confidence. But if the inflows to exchanges keep rising, short-term pain may not be over yet.
