- Whales have dumped $1.9B in XRP, sparking fears of a 30% price crash.
- SEC ruling and ETF news could trigger a major price reversal.
- XRP must hold $2.65 or risk falling toward $2 support.
XRP price is down 15.7% from its recently set all-time high, slipping from $3.65 to around $3.07, as heavy whale sell-offs and looming regulatory developments send ripples through the market.
Despite holding above $3, the broader sentiment remains fragile, with analysts warning of a potential 30% drop if support levels give way.
As investors await a critical US SEC decision that could redefine XRP’s regulatory status, large holders are quietly exiting the market in volumes not seen since the last major correction earlier this year.
The timing of these outflows, combined with weakening momentum indicators and fading volume, has traders on edge.
Whales offload billions as fear returns
Over the past month, XRP whales have unloaded more than 640 million tokens, worth approximately $1.91 billion, according to on-chain data analysed by The Enigma Trader on CryptoQuant.
These outflows, most of which occurred while XRP traded between $2.28 and $3.54, have raised serious concerns among market observers.
Notably, this pattern of distribution during price rallies mirrors earlier activity in January and February, when a similar sell-off preceded a sharp correction.
This time, however, there is a broader structural weakness across altcoins, with XRP increasingly showing signs of fatigue.
Santiment data also shows $6 billion in XRP was dumped by whales since the July 18 peak.
Even Ripple co-founder Chris Larsen reportedly sold $26 million worth of XRP in July, adding to concerns that insiders and early holders are taking profits ahead of potential downside.
XRP momentum stalls, support levels under pressure
While the XRP price recently managed to push above the $3 mark, rising from $2.91 to $3.08 before closing at $3.07 at press time on August 7, technical momentum remains flat.
Buying pressure came largely from Korean exchanges, especially Upbit, which processed over $95 million in XRP trades within one day.
However, despite the short-term surge, the token failed to hold above $3.02, with volume quickly fading.
Currently, the $2.98 level serves…