Key Insights:
- XRP price shows a bullish divergence on the 12-hour chart, hinting at a small rebound if Ripple coin breaks through $2.31.
- Whale selling is small, and long-term holders have reduced weekly selling by 78%, easing pressure on the market.
- ETF dates this month may add extra movement, with $2.31 and $2.10 acting as the main levels to watch.
XRP price has dropped more than 8.6% in the last seven days. The market has been slow, and the price is still trying to stay above key support. Even with this weakness, a few signs now show that the heavy selling phase may be passing.
With several Ripple ETF dates coming up this month, traders are watching XRP closely. Here is how the chart, holder behavior, and ETF dates line up.
XRP Price Chart Signal Points to a Possible Short Bounce
Between 9 Nov. and 16 Nov., XRP price made a lower low. But the RSI made a higher low.
RSI is a simple tool that tells us if buyers or sellers are stronger. When the price falls but RSI rises, it means selling is not as strong as before.
For XRP price, this can lead to a small bounce. However, the exact bounce levels matter.
The first level that matters is $2.31. If the price closes above this, Ripple coin can try to move toward $2.38. However, the structure turns bullish only if the XRP price level beats $2.58, especially in the near term.
If the price falls below $2.10, it can slip toward $1.87. For now, the divergence keeps the chance of a bounce open.
Ripple Whales Are Selling Less and Hodlers Are Slowing Down Too
Large wallets still hold most of the XRP supply, but their share moved slightly this month. The top 1% of wallets held about 87.729% of the supply on 3 November.
By 16 Nov., this number was about 87.714%. This is a small drop, but it shows that whales are releasing some XRP into the market.
Even though they are selling, the amount being released is very small. This is different from strong selling phases, where supply from whales drops sharply.
Long-term holders, or hodlers, also changed their behavior. At the start of the month, the Ripple whales sold more than 282 million XRP.
By mid-month, this number dropped to about 63 million XRP. That is a 78% reduction in weekly selling pressure.
When long-term holders slow down like this, it often means the fast part of the fall has already happened. The price may not recover quickly, but the pressure is lighter than before.
The only alarming sign here is that the net pressure is still tilted towards selling. Rebounds and bounces could form if any of these cohorts go back to their buying ways.
XRP Price May Benefit from ETF Launches
This month has several XRP ETF-related dates that can influence trading. Firstly, the Canary Capital had its date on 13 November.
That didn’t impact the prices much. However, the Franklin Templeton one has its window between 14 and 18 November.
That is followed by the 21Shares, which has its window between 20 and 22 November.
ETF events usually bring more trading because traders expect updates or prepare for changes. This can increase buying or selling around the same time.
For XRP price, the next step is simple. If the price closes above $2.31, it can try for $2.38. If it fails to hold $2.10, it can move lower.
For now, whales are releasing only a small amount, and hodlers have slowed their selling significantly.
And the XRP price chart shows a positive signal. These pieces together explain why traders might expect a short rebound as XRP ETF week continues.