Large investors have withdrawn over $4 billion from the XRP token in a month

Cryptocurrency

Large holders of the asset sold 2.2 billion coins in November, offsetting the positive effect from the ETF launch. Technical indicators show a shift in market sentiment toward the “fear” zone. The token’s price is consolidating in a narrow range with the risk of further decline.

This week, the token is attempting a recovery. Prices are supported by optimism surrounding the launch of spot exchange-traded funds (ETFs) based on the asset. However, the upward momentum faces strong selling pressure.

XRP whales set new records

November became a period of large-scale asset distribution by major market participants. This prevents the price from stabilizing at higher levels and creates prerequisites for a trend reversal.

According to on-chain data, the behavior of major investors has changed sharply. This month recorded the largest selling volume since March 2023.

Wallet holders with balances between 1 million and 10 million tokens sold more than 2.20 billion XRP in total — over $4.11 billion in value. The combined reserves of this group declined to 4.39 billion tokens, reaching a 32-month low.

Such aggressive capital distribution signals growing concerns among wealthy market players. Investors are reducing risk and locking in profits despite positive ETF news. The scale of outflows indicates uncertainty about the asset’s sustainable growth.

Ethereum Whale Holdings. Source: Santiment

Market sentiment indicators

Macroeconomic indicators confirm negative dynamics. The unrealized profit/loss metric (NUPL) for this cryptocurrency fell below the threshold value of 0.25.

This level indicates a transition to the “Fear” stage. Afterwards, the indicator showed a slight rebound. Historically, such movements lead to two potential outcomes:

1. If panic stabilizes and holders refrain from further selling, prices may recover and profitability gradually normalizes.

2. If pressure intensifies, the market enters a capitulation phase, typically causing a sharp decline in the asset’s value.

The next steps depend on traders’ activity in the coming days. A confident move toward $2.50 would signal renewed trust. Otherwise, persistent negative sentiment may return the asset to a high-volatility zone.

XRP NUPL. Source: Glassnode

Technical analysis and key levels

At the moment, the asset trades around $2.20. The chart shows sideways movement below the $2.28 resistance level.

The ETF launch allowed the price to stay above the critical $2.14 support level. However, trading volumes remain muted and the growth impulse is weak.

If buyers fail to overcome sustained selling pressure from large holders, consolidation in the $2.14–$2.28 range is likely. A breakdown of the lower boundary may send the price toward $2.00 or lower, confirming a bearish trend.

XRP Price Analysis. Source: TradingView

To reverse the negative scenario, selling pressure must decrease. In this case, the asset could test the $2.28 barrier. A successful breakout would open the path to $2.36 and $2.50. Such a move would invalidate the current bearish outlook and signal a new accumulation phase.

See also: "Bitcoin Holds Steady Above $91,000 After Rising on Expectations of Fed Policy Easing"

#XRP (XRP)

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