XRP price is once again leaning on a critical level — a key area that’s held through multiple declines this month. The token trades near $2.40, down nearly 4% this week and 14% over the past month. The broader trend remains weak, but the $2.28 zone has repeatedly stopped deeper breakdowns.

However, that floor now faces its biggest test yet. A broad selling wave across cohorts is combining with a bearish chart setup. It appears the key $2.28 support might not hold if selling continues to build momentum.

Sponsored

Sponsored

Large Investors and Whales Join the Selling Wave

The selling streak among large wallets began on October 16. Data shows that whale and mid-tier wallets have been trimming holdings consistently since then.

Addresses holding over 1 billion XRP reduced their balances from 26.19 billion to 25.10 billion. They offloaded 1.09 billion XRP, worth about $2.63 billion at current prices.

Mid-size holders (10 million – 100 million XRP) cut their stash from 8.28 billion to 8.13 billion, shedding about 150 million XRP, worth nearly $360 million. This week-on-week sell pressure exerted by XRP whales has dragged the price lower by almost 4%.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

Long-term holders are following a similar path. The Hodler Net Position Change, which measures how much long-term investors add or reduce holdings, has deepened into red territory.

Cashing out increased from –18.5 million XRP on October 17 to –59.5 million XRP by October 21, showing a 220% rise in outflows within four days.

Sponsored

Sponsored