XRP Price Struggles Amid Increased Whale Selling Activity
According to data from Santiment, wallets holding between 1 million and 10 million XRP have collectively reduced their positions by around 200 million tokens over the past two weeks. This shift indicates that some of these mid-level holders are exiting their group, bringing their combined XRP holdings down to approximately 6.74 billion.
These wallets are neither small retail investors nor the largest XRP holders, but their movements can significantly affect supply dynamics and short-term price trends. Recently, these whales have been notably decreasing their XRP holdings.
XRP Price Stability Amid Selling Pressure
Despite XRP’s price oscillating near the $3 mark, fluctuating between $2.90 and $3.30, it has struggled to find clear upward momentum. The ongoing selling by mid-tier wallets may be contributing to this stagnation.
One possible explanation for the selling activity is profit-taking, following XRP’s price rally earlier this summer. Another factor might be increased caution among investors due to upcoming decisions by the Federal Reserve and uncertainty around liquidity in broader markets. Some holders may prefer to reduce risk exposure amid potential volatility.
Increased XRP Transfers to Exchanges Signal Selling Intent
Importantly, not all of the moved XRP tokens have gone into cold storage. Santiment data shows a rise in XRP transfers to exchanges, suggesting that some portion of the 200 million tokens has been deposited onto trading platforms.
“This transfer implies that selling pressure could intensify if those tokens enter the open market,” analysts noted.
This dynamic could play a crucial role in shaping XRP’s near-term price movements as market participants monitor supply shifts and investor behavior closely.
