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XRP Price Warning: MVRV Death Cross Signals Potential 15% Drop Ahead
XRP Price– Ripple’s XRP price is under heavy pressure, with a sharp drop of over 20% since mid-July’s $3.6 peak, fueled primarily by whale selling, according to crypto analyst Ali Martinez. Large holders controlling between 1 million and 1 billion XRP have trimmed their positions from over 10 billion to 8 billion tokens, selling roughly $6 billion worth of XRP in just three weeks.
Bearish Signals Flash as Selling Persists
Martinez warns that the sell-off is far from over. A critical bearish indicator known as the MVRV death cross has appeared, signaling strong dominance by short sellers. This same signal triggered in late March when XRP plunged over 30%, dropping from $2.4 to $2.0. If history repeats, XRP could see further declines, potentially opening a discounted buying opportunity.
Key Support Levels to Watch
Currently trading around $2.9, XRP’s immediate support lies near $2.8, but on-chain data highlights a more significant floor at $2.48. Most holders acquired XRP between $2.2 and $2.48, making this a crucial downside risk zone. Notably, this range aligns closely with the 200-day Simple Moving Average (SMA), suggesting a possible additional 15% dropif broader market sentiment worsens.
Contrarian Traders Show Confidence
Despite the bearish outlook, some traders are betting on a rebound. Data from CoinGlass shows that smart Binance traders have boosted their long positions from 64% to 69% over the past two days—a sharp reversal after a reduction from 79% to 64% in the previous weeks. This could indicate growing confidence among large investors that XRP’s bottom might be near.
