XRP Price Finds Support at $3 Despite Whales Recording $1.2 Billion Selloff

XRP has shown significant volatility in recent days, reflecting investor uncertainty. Despite large price fluctuations, XRP has maintained stability around $3.00, primarily due to contrasting investor actions.

The decision to sell a large amount of XRP by whales is affecting price movements.

XRP Whales Causing Trouble

Selling pressure from whales is evident, as large holders are reducing their positions. In the past week, addresses holding between 10 million to 100 million XRP have sold approximately 400 million XRP, valued at over $1.2 billion.

This move has contributed to uncertain price volatility, pushing the market into a fluctuating phase.

Despite whale sales, XRP supply on exchanges has decreased. This means other small investors may be actively working to stabilize the price.

In the past 24 hours, 77 million XRP, valued at $231 million, was withdrawn from cryptocurrency exchanges. Continuous accumulation by investors supports the price and prevents XRP from falling sharply below $3.00.

Investor behavior seems to counterbalance large-scale whale selling, creating a foundation for potential price recovery. While whales dominate market selling pressure, other small investors are helping to keep XRP price stable.

These investors' active buying behavior, combined with a positive net position, is crucial in maintaining prices above important support levels. These efforts could lead to a potential price increase.

XRP Price Vulnerability

At the time of writing, XRP is trading at $3.09, holding above the $3.07 support level. Recent price action suggests XRP is unlikely to drop below $3.00, especially with strong support. This stability is necessary for potential recovery.

If XRP can secure $3.12 as the next support level, it could rise to $3.41, partially recovering recent losses. Buying activity from small investors could help push the price to this higher level, signaling a short-term recovery potential.

However, if whale selling pressure continues to increase, XRP could drop below the $3.07 support level. In this case, XRP might decline to $2.91, invalidating the price increase prospect and potentially triggering further decline.