Whale Sell-Off Reaches $800 Million as Token Hovers Around $2.08

TLDR

• Ripple whales have sold approximately $800 million worth of XRP since early April
• XRP price has fallen below $2.10, currently trading around $2.08
• A major whale transferred 131 million XRP ($273 million) between wallets, raising concerns
• Exchange inflows have surged from 28 million to 55.6 million XRP, suggesting selling pressure
• Analysts predict possible further decline to $1.90 or even $1.55 support levels

The price of XRP has slipped below $2.10 today, with the cryptocurrency trading at $2.08 amid growing selling pressure from large holders. Data suggests Ripple whales have disposed of approximately $800 million worth of the token since early April, continuing a trend that began in late March.

According to analyst Ali Martínez, these market participants have sold more than 370 million tokens in recent weeks. The selling coincides with broader market volatility affecting major digital assets including Bitcoin and Ethereum.

Whales have sold over 370 million $XRP since the start of the month! pic.twitter.com/KXiCjGHmBM

— Ali (@ali_charts) April 15, 2025

The timing of these whale sell-offs has raised eyebrows in the crypto community. They began shortly after Ripple CEO Brad Garlinghouse announced on social media that the lawsuit between his company and the SEC had effectively ended after both parties dropped their latest appeals.

Whale Activity Intensifies

Whale movements have accelerated recently. Whale Alert reported that a single Ripple whale transferred 131 million XRP (worth approximately $273 million) between two unknown wallets in a single transaction.

This large transfer has sparked speculation about a potential upcoming dump. Some market observers believe the wallets may belong to an exchange, potentially setting the stage for a massive sale that could further pressure XRP’s price.

Another whale transferred $63 million worth of XRP in a single transaction just 12 hours earlier. This cascading effect of whale activity has put investors on high alert.

CryptoQuant data shows exchange inflows have surged from 28 million on April 8 to 55.6 million XRP on Wednesday. When investors deposit tokens on exchanges, it often signals potential selling pressure.

The spike in exchange inflows correlates with increasing whale-to-exchange transactions and the prevailing shaky market sentiment.

Technical Indicators Point Downward

Liquidation data from Coinglass indicates $5.1 million in long positions were wiped out compared to $1.25 million in short positions in a 24-hour period. A negative long-to-short ratio of 0.938 suggests investors prefer to reduce exposure to XRP.

Cryptocurrency analyst CasiTrades notes that XRP has repeatedly failed to breach the $2.17 resistance level. According to the analyst, if this rejection continues, support at $1.90 and potentially $1.55 “remains firmly in play.”

Despite the current downtrend, the Moving Average Convergence Divergence (MACD) indicator maintains a buy signal, reinforced by green histograms. The Relative Strength Index (RSI) could signal XRP’s direction, with movement toward the oversold region suggesting a bearish trend.

Over the last week, XRP price gained 15%, but recent whale activity has contributed to a 4% loss over 24 hours.

ETF Prospects and Market Factors

Market watchers point to several external factors affecting XRP’s price movement. Trade tensions between the United States and China stand out as a major influence, especially after the Trump administration banned exports of H20 chips to China.

The US stock market resumed correction after a week of sustained gains, with S&P futures falling by 0.85%, Dow futures by 0.33%, and Nasdaq futures by 1.42%.

Looking ahead, Ripple still has potential catalysts on the horizon. The possible approval of an XRP ETF in the United States could restart another rally. According to Kaiko Research, “May 22 is an important date to watch in light of the recent ETF approval of a 2x XRP ETF from Teucrium, as the SEC must respond to Grayscale’s XRP spot filing by then.”

Kaiko outlined that XRP ETFs are more likely to be approved than Solana ETFs, thanks to the token’s improved market depth since late 2024.

However, investors should temper expectations considering that soon-to-be-sworn-in SEC Chair Paul Atkins might delay the process as he adjusts to his new role.

The potential SWIFT integration with Ripple is another factor that some analysts believe could eventually send XRP price beyond $3.

If XRP loses the immediate $2.00 support, losses could extend to the 200-day Exponential Moving Average (EMA) at $1.95 and possibly to the $1.61 level tested last Monday.

The crypto community remains divided on whether the conclusion of the SEC lawsuit represents a typical “buy-the-rumor, sell-the-news” event, as whale selling patterns might suggest.