XRP Faces Heavy Whale Selling as Price Holds Key Support Near $2.00
XRP experienced strong movement in the markets this week following a large dump of about 280 million tokens in the whale wallets. This giant surge in selling came at a time in which XRP has been trading in a tight consolidation zone.
Despite the pressure, the price is holding the psychological $2.00 level. Traders are paying attention now as to how long buyers will be able to defend this zone and whether or not sellers will keep selling at higher prices.
In the short term, traders are anticipating a decisive move that will confirm the future direction of XRP.
Market Structure Is Stuck in a Narrow Range
XRP has spent the last week being traded between two areas, in the area of a top where it was $2.00-$2.02, which was excellent buying interest and selling that occurred at $2.04-$2.06 then which is maintenance. This range shows that investors are not willing to commit to a breakout in either direction.
Attempts to climb above resistance have been a repeated failure. Every advance to $2.05 sparks another round of selling volume, leaving the market moving in a sideways pattern.
Until the price closes above the zone of $2.06 to $2.08, the wider trend is neutral-to-bearish and flags a range-bound behavior.
How Whale Activity Is Impacting Price Activity
The selling of 280 million XRP by large holders is a major factor for the stalled momentum. Whales tend to sell out of strength, and this behavior is evident in the way that price reacts each time it approaches resistance.
Their constant selling at above $2.04 keeps buyers out of control. While long-term holders are defending weaker levels, the whales are taking every opportunity in rallies to lower their exposure.
This back-and-forth accounts for a market in transition, one that neither side is willing to give up but one that neither feels comfortable committing to all the way.
Why Support at $2.00 Still Matters
The $2.00 zone continues to be an important support for XRP. Further buyers keep coming in at this stage, indicating that the price is still attractive for long-term positions.
The multiple bounces from this area indicate confidence in the long-term promise of this asset, despite the whales reducing their positions.If this support level is held it will help to stabilize the market and prevent a deeper drop.
However, if the volume breaks the level heavily, the market may quickly change and move into a more bearish environment.
Final Verdict
The next big move of XRP comes from whether the buyers can overcome the current wave of distribution. A good close above $2.06–$2.08 would signal new strength and possibly lead to a new trend higher.
If the sellers have control, the market is likely to stay in consolidation, leaving traders waiting for a cleaner direction.
For now XRP is at a crossroads based on whale activity, defensive buying, and a narrow range, which determines the next trend.
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