Large XRP holders have sold a significant 40 million XRP over the past month, raising concerns about potential market impact.

Whale XRP Holdings Decline

Recent data indicates a significant reduction in XRP holdings among large wallets. Over the past month, wallets holding between 1 million and 10 million XRP offloaded 440 million tokens. This activity has reduced their collective balance to 6.51 billion XRP. The trend suggests large holders are decreasing their XRP exposure.

$2.80 as a Critical Support Level

The price level of $2.80 is drawing attention due to substantial transaction volume. Approximately 2.48 billion XRP have changed hands at this price, representing a large portion of the total supply. This level signifies a key entry point for many holders and acts as a crucial support zone. Sustained price stability around this level is anticipated.

Short-Term Price Signals and Trends

Analysts are observing mixed signals in XRP's price action. A daily close above $2.89 is considered a potential bullish indicator, possibly presenting a long entry opportunity. The XRP price is also currently testing a trendline, with a breakout above $3.15 potentially leading to further gains.

Market Outlook and Trader Alert

Traders are advised to remain vigilant for potential price direction changes. A decline below the $2.80 support level could trigger further selling and short-term losses. The market is waiting for the next healthy trading opportunity.