Crypto Whales’ $500 Million Exodus Puts Pressure on XRP’s Price Stability 🐋

XRP attempts to reach a new all-time high, but its price is volatile, repeatedly testing the $2.95 support level. While whale selling has heightened uncertainty, long-term holders (LTHs) play a major role in preventing a steep decline.

Whales holding 10-100 million XRP recently sold 160 million tokens, valued at $500 million, due to concerns over XRP's lack of sustained rally. However, some whales now reacquire XRP, suggesting renewed confidence in its long-term potential, potentially supporting a rally toward the ATH.

XRP's macro momentum remains strong, as indicated by the highly positive MVRV Long/Short Difference, reinforcing long-term holders' commitment. Strong market participation suggests potential for XRP to sustain current levels.

Trading above its $2.95 support, XRP's defense of this level could trigger a rally. However, reclaiming the ATH of $3.40 remains challenging. Whales repurchasing XRP could bolster its chances of rallying beyond this threshold.

If XRP loses the $2.95 support before initiating a rally, sentiment could shift bearish, potentially driving XRP down to $2.73 or lower, invalidating a bullish-neutral outlook.