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XRP price falls below $2, whales sell $8.38 billion
According to Cointelegraph, the XRP daily chart recorded its lowest closing price in 99 days on March 10, falling below the $2 support level, but rebounded 12% on March 11.
XRP's price is currently down 37.1% from its historical high of $3.40. The buying pressure in the spot market has failed to absorb the selling pressure, resulting in the price not recovering above $2.50.
Data shows that the cumulative trading volume difference (CVD) of XRP in spot markets decreased by 50% in March, indicating increased selling pressure and weakened demand. The futures market has also turned bearish, with perpetual CVD dropping to -$1.18 billion.
XRP's whale holders sold approximately $8.38 billion from March 4 to 10, reflecting a continued bearish trend. If the price cannot return to $2.05, it may test the $1.60 support level.
XRP's price is currently down 37.1% from its historical high of $3.40. The buying pressure in the spot market has failed to absorb the selling pressure, resulting in the price not recovering above $2.50.
Data shows that the cumulative trading volume difference (CVD) of XRP in spot markets decreased by 50% in March, indicating increased selling pressure and weakened demand. The futures market has also turned bearish, with perpetual CVD dropping to -$1.18 billion.
XRP's whale holders sold approximately $8.38 billion from March 4 to 10, reflecting a continued bearish trend. If the price cannot return to $2.05, it may test the $1.60 support level.
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.