News View Non-AMP

Time to Sell XRP? Whales Transfer 70 Million Tokens to Exchanges

Published by
Chandan Gupta

The current volatility in the cryptocurrency market has left traders and investors confused. Amid this, XRP, the native token of Ripple Labs, is poised for a price decline as sentiment among crypto enthusiasts shifts toward the bearish side.

70 Million XRP Dump Onto Exchanges

Recently, a prominent crypto expert posted on X (formerly Twitter) that crypto whales have dumped over 70 million XRP tokens onto exchanges in the past four trading days. This massive sell-off has garnered significant attention from crypto participants.

The market considers such dumps as a bearish signal, potentially leading to a notable price decline, which is currently reflected in the XRP price.

Current Price Momentum

The asset is currently trading near $2.97 and has experienced a price decline of over 4.45% in the past 24 hours. During the same period, its trading volume has remained stable, showing no significant change.

XRP Technical Analysis and Key Levels

According to expert technical analysis, XRP has been moving within a descending parallel channel on a daily timeframe. However, the price has formed a bearish engulfing candlestick pattern and appears to be declining

Based on recent price action and historical momentum, there is a strong possibility that XRP could drop by over 8.5% to reach its support level at $2.75.

Despite the bearish market outlook, the altcoin has managed to hold above the 200 Exponential Moving Average (EMA) on the daily timeframe, suggesting that XRP is in an uptrend.

Traders’ Bearish Outlook

Looking at the bearish price action, traders are strongly betting on the downside, as revealed by CoinGlass data. At press time, $2.91 is a level where bulls are over-leveraged, holding $28 million worth of long positions. Conversely, short sellers are over-leveraged at the $3.10 level, holding $56.30 million worth of short positions.

This data indicates that short sellers are dominating the asset and could trigger a liquidation of the bulls’ open positions if the price falls below the $2.91 level.

Chandan Gupta

Chandan Gupta is a crypto analyst and news writer at CoinPedia. He specializes in market analysis using on-chain metrics and industry insights to forecast market trends. With over four years of trading experience, Chandan simplifies complex concepts in technical and on-chain analysis, making them easy to understand. At CoinPedia, he leverages his expertise to identify and present emerging opportunities in the cryptocurrency space

Recent Posts

Algorand Price Prediction 2025, 2026 – 2030: Will ALGO Price Hit $1?

Story Highlights The live price of the Algorand is Price predictions suggest ALGO could reach…

July 26, 2025

Avalanche Price Prediction 2025, 2026 – 2030: Will AVAX Price Hit $100?

Story Highlights The live price of the Avalanche is . Price predictions for 2025 suggest…

July 26, 2025

Finding The Next Pepe Coin – What Cryptos Might Have The 10,000x Factor?

Pepe Coin’s 2021 meteoric rise showed how quickly a meme token can explode. Today, traders…

July 26, 2025

Cardano Price Drops But ADA Remains A Hugely Bullish Bet For Experts, Along With RTX and SUI

Cardano's price has dropped 1.88% to $0.7908 but is still a top long-term crypto bet,…

July 26, 2025

We Asked Grok, ChatGPT, and Deepseek AI To Pick The Next Shiba Inu (SHIB) – They All Agreed On This Coin

Shiba Inu coin's recent market performance has shown signs that the meme coin might be…

July 26, 2025

Ripple Price Prediction – How Much Could 1,000 XRP Be Worth in 2026?

Despite recent selling pressure from Ripple’s co-founder, Chris Larsen, and a 20% drop in XRP’s…

July 26, 2025