XRP Price Crashes Under $3 After Whales Sell 160M Tokens

TLDR

• The XRP price dropped below the critical $3 support level after significant whale selling.
• Ripple whales sold 160 million XRP in two weeks which is nearly $500 million in value.
• Despite early stability, the XRP peaked at $3.19 before reversing its trend.
• The selling pressure and broader market pullback led to a 6.5 percent decline since Saturday.
• XRP remains under pressure as the SEC continues to block XRP ETF proposals.

The XRP price has fallen sharply below the key $3 support zone after extended selling by major XRP holders. Whales offloaded 160 million XRP over the last two weeks, equal to nearly $500 million. Despite earlier gains, the XRP price reversed its course amid growing pressure from both sellers and market trends.

Whales Sell Off XRP Despite Market Stability

Ripple whales started selling aggressively last week, beginning with a dump of 40 million XRP in just one day. That amount translated to over $120 million, yet the XRP price stayed above $3 for a while. The asset even climbed and touched $3.19 on Saturday, its highest price in one month.

This increase offered whales a chance to sell even more, which they did during the following days. Blockchain analyst Ali Martinez confirmed the total sell-off reached 160 million XRP.

However, the heavy selling eventually overwhelmed market strength and affected the XRP price. The continued whale activity played a direct role in the breakdown. This resulted in the price sliding under the important $3 support line.

XRP Price Drops After ETF Setback and Market Dip

XRP price losses also came as the broader crypto market started retracing in recent hours. Combined with whale pressure, this macro pullback pushed XRP below $3 earlier today. At the time of writing, the XRP price remains under that level.

Daily losses now stand at 3.5%, with a total decline of over 6.5% from the weekend peak. The sharp drop surprised many market participants who expected a rally. Analysts earlier predicted the next XRP price target around $3.65.

But the SEC’s negative stance on XRP ETF proposals added further weight. Ongoing regulatory roadblocks hurt investor confidence and limited upside movement. As a result, the XRP could not hold its gains.

Many experts viewed the move past $3 as a bullish sign for XRP price momentum. However, the market proved otherwise as sell pressure dominated. The shift highlighted how crypto prices often defy analyst predictions.

Even though forecasts pointed toward a continued rally, the XRP price fell instead. This move reminded traders that market sentiment can shift quickly. Selling from large holders adds volatility and uncertainty to XRP’s performance.

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