🌀 $XRP going downhill after the peak – whales retreat, Long positions fade
After reaching the highest weekly and daily closing level of the year at $3.45, XRP unexpectedly turned around and dropped nearly 10.33% in just one day, marking the strongest correction since April. This drop has caused the open interest (OI) in the XRP futures market to decrease from $10.94 billion to $9.1 billion – equivalent to -16.8%, reflecting the exiting pressure from leveraged traders.
📉 The third largest liquidation of 2025 also occurred, with over $86 million wiped out on Binance in just a few hours. The cause is believed to be related to the wallet of Ripple co-founder – Chris Larsen, who transferred over 50 million XRP (worth about $140 million) to the exchange, raising suspicions of dumping.
Despite increased selling pressure, the number of wallets holding >1 million XRP still reached 2,743 wallets, but data from CryptoQuant indicates that whale cash flows have turned negative over the past 90 days – a signal that could warn of a local peak.
🔍 Technical analysis: The long-term trend remains positive unless XRP falls below the $3.00 mark and deeper support at $2.64. If it breaks back above $3.25, the short-term upward trend may be reestablished.
⏳ Hold steady or break down? The XRP bulls are on the defensive – waiting to see if there are enough “fish” to keep the boat afloat!
#xrp #Ripple #CryptoMarket #WhaleWatch #XRPPriceAction
After reaching the highest weekly and daily closing level of the year at $3.45, XRP unexpectedly turned around and dropped nearly 10.33% in just one day, marking the strongest correction since April. This drop has caused the open interest (OI) in the XRP futures market to decrease from $10.94 billion to $9.1 billion – equivalent to -16.8%, reflecting the exiting pressure from leveraged traders.
📉 The third largest liquidation of 2025 also occurred, with over $86 million wiped out on Binance in just a few hours. The cause is believed to be related to the wallet of Ripple co-founder – Chris Larsen, who transferred over 50 million XRP (worth about $140 million) to the exchange, raising suspicions of dumping.
Despite increased selling pressure, the number of wallets holding >1 million XRP still reached 2,743 wallets, but data from CryptoQuant indicates that whale cash flows have turned negative over the past 90 days – a signal that could warn of a local peak.
🔍 Technical analysis: The long-term trend remains positive unless XRP falls below the $3.00 mark and deeper support at $2.64. If it breaks back above $3.25, the short-term upward trend may be reestablished.
⏳ Hold steady or break down? The XRP bulls are on the defensive – waiting to see if there are enough “fish” to keep the boat afloat!
#xrp #Ripple #CryptoMarket #WhaleWatch #XRPPriceAction