$400 million of XRP sold in just 48 hours—what’s fueling the heavy sell‑off?
On‑chain data shows that large XRP holders moved about 200 million tokens, worth roughly $400 million, in a 48‑hour window. The biggest sellers were wallets holding 1‑10 million XRP, adding substantial sell‑side liquidity. This surge hit a market already under pressure, pushing XRP down 10.3% in 24 hours and breaching the $2 psychological level. XRP now trades below its 50‑day and 200‑day SMAs, confirming a bearish trend. The Fear & Greed Index sits at 14, indicating “extreme fear,” while 24‑hour selling volume topped $7.2 billion. Parallel weakness in Bitcoin and Ethereum, coupled with concerns over delayed Fed rate cuts, has amplified risk‑off sentiment across crypto. Analysts say a pause in whale selling could let XRP test the $2 resistance and possibly recover to $2.50‑$2.70 short‑term. Without that, further decline toward $1.50 is likely. Medium‑term forecasts place XRP between $1.96 and $2.27 through 2025, with upside dependent on regulatory clarity and future ETF activity.
