Summary
- Whales (large investors) have sold about 640 million XRP, amounting to $1.91 billion, in the past month.
- Cointelegraph reported that most sales occurred while XRP was trading in the $2.28~$3.54 range.
- With decreasing trading volume and strong signs of losing momentum, a drop below the $2.65 key support could lead to a plunge down to $2.
It has been found that whales (large investors) sold XRP worth $1.91 billion (about ₩2.65 trillion) over the past month.
According to Cointelegraph, citing CryptoQuant data on the 7th (local time), whales sold about 640 million XRP from the 9th of last month to today. Cointelegraph reported, "At current prices, the outflow amounts to more than $1.91 billion," adding, "Most of the sales occurred when XRP was trading between $2.28 and $3.54." There are also observations that XRP could sharply drop to the low $2 level. The key support line is cited at $2.65. Cointelegraph stated, "(XRP) has seen a noticeable loss of momentum with decreasing trading volume during the recent uptrend," and "if it falls below the $2.65 support line, there is a high possibility of a sharp drop to $2."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
![[Key Economic & Crypto Calendar for the Week Ahead] US December PCE Price Index, and More](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
![[Analysis] "Binance’s XRP holdings fall to a two-year low…a signal of easing sell-side pressure"](https://media.bloomingbit.io/PROD/news/ddf35c9e-c582-4b4d-95b6-0c5b1673198d.webp?w=250)
