- Whale addresses offload 600 million XRP in one day.
- Long-term holder activity hits 7-month high.
- Resistance at $2.27 remains key barrier for next move.
XRP has climbed from $1.94 to $2.24 in recent sessions, a 15% gain that marks a short-term recovery for the Ripple-associated token. However, despite the rise, concerns are building over its ability to hold or build on this momentum.
Although XRP is currently trading at $2.24, its price is down by 2.15% in the last 24 hours.
Analysts tracking blockchain data say large holders have begun offloading their positions, putting pressure on the altcoin just as it approaches a major resistance level at $2.27.
Blockchain data shows that wallets holding between 100 million and 1 billion XRP offloaded over 600 million tokens within 24 hours this week, reducing their collective balance to 7.7 billion XRP.
The value of the tokens sold stands at more than $1.2 billion. This selling activity signals rising uncertainty among large investors—also referred to as whales—about XRP’s ability to continue climbing in the current environment.
Long-term holders turn bearish
One of the key indicators of market conviction is the “age consumed” metric, which measures the activity of long-held tokens. This week, that metric spiked to a seven-month high, indicating a rise in selling among long-term holders (LTHs).
These LTHs are often viewed as stabilising forces in the market, and a decision by them to reduce exposure could suggest waning confidence in XRP’s long-term trajectory.
The scale of this shift is noteworthy because LTHs typically refrain from selling during volatile periods. Their decision to do so now introduces added downside risk and puts further pressure on price stability.
As more long-held XRP enters circulation, selling pressure could outpace buyer demand, leading to a potential retracement.
Price faces strong resistance at $2.27
At present, XRP is trading just below a resistance level that has remained intact for over a month. The $2.27 threshold has historically been a key barrier for the token.
Should XRP fail to break through this level, the next likely move would be a return to support around $2.13.
If sellers continue to dominate—especially those unloading large holdings—the…