Whales have sold 470 million XRP in the past 10 days, on-chain monitoring shows that large holders are under significant selling pressure.
XRP has been dumped by whales, directly putting pressure on the price, and with ETH whales also selling 4000 ETH, the market is generally deleveraging.
An OG address obtained ETH from the foundation 10 years ago and is now selling wildly, showing significant unrealized losses.
The behavior of whales is too panic-driven, feeling like a hedge, but the net reduction of 178 million ETH staked suggests bottom accumulation.
XRP may drop below $0.5, but in the long run, favorable regulations for stablecoins benefit cross-border payments. It is advised that whales buy back low after selling, and not to FOMO.