$400 Million XRP Offloaded in Just 48 Hours, What’s Behind the Massive Sell Pressure?
Overview
XRP has experienced a significant sell-off recently, with major whale wallets offloading nearly 200 million XRP, amounting to around $400 million, within a mere 48 hours. This wave of selling has contributed to a notable decline in XRP’s price amidst a broader bearish sentiment in the cryptocurrency market.
What Happened?
On-chain data indicates that wallets holding between one million and ten million tokens were primarily responsible for the recent sell pressure on XRP. This influx of supply has added considerable sell-side liquidity to a market that was already facing challenges. As a result, XRP’s price dropped by over 10% in a single day, falling below the crucial psychological level of $2 and reaching lows near $1.85.
Market indicators reveal that XRP is trading below both its 50-day and 200-day Simple Moving Averages, suggesting a sustained downward trend. The Fear & Greed Index currently sits at 14, categorizing market sentiment as “extreme fear.” Additionally, selling volume surged past $7.2 billion within 24 hours, indicating a significant amount of selling activity.
The broader cryptocurrency market is also facing challenges, with Bitcoin dipping below a key price level and Ethereum falling below $3,000. This market-wide decline has been exacerbated by macroeconomic concerns, particularly regarding potential delays in Federal Reserve rate cuts, which have dampened investor appetite for risk assets.
Impact on the crypto market
- Major whale wallets have contributed significantly to XRP’s recent sell-off, impacting overall market liquidity.
- XRP’s price decline reflects broader bearish sentiment affecting the entire cryptocurrency market.
- The current “extreme fear” sentiment may hinder recovery efforts for XRP and other cryptocurrencies.
- Market indicators suggest that XRP is under sustained downward pressure, with potential implications for future trading ranges.
- Broader economic factors, such as Federal Reserve policies, are influencing investor behavior and market dynamics across cryptocurrencies.
Updated: 11/22/2025, 1:43:34 AM
