XRP hits $1.50s 'sell wall'…On-chain slowdown caps upside

An analysis suggests XRP is struggling to rebound as heavy sell orders block gains at a key resistance zone.

According to Glassnode data on the 24th (local time), a sell wall totaling about 1 billion XRP has formed in the $1.55–$1.59 range.

Crypto outlet BeInCrypto said, “This zone is where the average cost basis of past buyers is concentrated, and as the price approaches it, sell pressure aimed at breaking even emerges, acting as a factor that limits further upside.”

Such a “sell wall” structure is also evident across broader on-chain indicators. XRP’s Network Value to Transactions (NVT) ratio has recently risen to around 200, mirroring patterns seen during past price-correction phases. This suggests the price may have risen ahead of network usage.

On-chain activity, meanwhile, appears to be slowing. According to Santiment data, daily on-chain transaction volume, which had increased to about 390 million XRP on March 15, has recently plunged to roughly 70 million XRP. While profit-taking transactions remain dominant, the sharp drop in absolute volume indicates limited inflows of new buying.

The same signal is visible in supply-demand dynamics. On Binance, cumulative XRP whale outflows over the past 30 days have fallen to about 1.285 billion XRP, the lowest level since early February. This implies large investors are increasingly inclined to keep assets on the exchange rather than move them off-platform. CryptoQuant contributor ArabChain analyzed this as “a signal of rising near-term selling risk and a strengthening wait-and-see stance among whales.”

Still, potential catalysts remain. Factors cited as supportive of a medium- to long-term foundation for institutional inflows include whether a spot XRP exchange-traded fund (ETF) is approved, Ripple Prime’s inclusion in the NSCC directory under the DTCC, growth of the stablecoin RLUSD, and expansion of payment networks. In particular, with the U.S. Securities and Exchange Commission’s (SEC) deadline for an ETF approval decision approaching on the 27th, whether fresh funds enter the market is drawing attention as a key variable that could shape the next trend.

On the technical side, BeInCrypto pointed to the $1.50 area as a near-term inflection point. If the price can decisively break above and hold that zone, it could open room for a rebound toward $1.65–$1.70. Investment outlet TradingNews also outlined a similar path, forecasting that “if the daily close clearly breaks above $1.44, the price could rise to $1.60.” However, if the trend turns lower, $1.33 would act as a key support level; a break below could widen downside pressure toward $1.16 and further to the $0.80–$1.00 range.