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Key Insights:
- XRP whales dumped 1.12 billion tokens in 48 hours, increasing sell pressure.
- A breakdown below $2.05 support could trigger a 46% drop toward $1.07.
- Diverging analyst views reflect uncertainty amid bearish chart signals and whale exits.
Ripple (XRP) price faced increased downside risk after on-chain data showed a massive whale selloff. Over 1.12 billion XRP tokens were sold within 48 hours.
As reported by blockchain analyst Ali Martinez, the sales came from wallets holding between 100 million and 1 billion XRP. XRP price faced challenges maintaining the $2.05 support level.
This struggle increased the risk of a potential 46% decline in value. Chart analysis suggests a breakdown from a rounding top pattern, with the following key support near $1.07.
Whale Dump Sends Bearish Signal for XRP Price
Citing Santiment data, Ali Martinez revealed on March 30 that large wallets initiated a major XRP selloff.
The sudden liquidation increased market supply, pushing prices lower. XRP price fell by 3.4% on March 30 and extended losses to 14.5% on the weekly timeframe.
Prices dropped from a local high of $2.90 in early March to just above $2 at press time. The 30-day performance shows a 4.9% decline, reflecting persistent selling pressure.
Chart Patterns Hint at Deeper XRP Price Drop
XRP Price action on the daily chart has formed a rounding top structure. A breakdown below the $2.05 support triggered fears of a 46% drop to $1.07.
Technical indicators support the bearish outlook. The relative strength index (RSI) sits below 38, indicating weakening momentum. Accumulation/Distribution data also shows a flat trend, suggesting a lack of buying interest.
Moreover, Coinglass liquidation heatmaps reveal that $2.05 marked a hot zone for long liquidations. Many long positions got wiped out as XRP price pierced this threshold.
Analysts Divided on What Comes Next
Veteran trader Peter Brandt flagged a possible head-and-shoulders pattern. He noted a drop below $1.90 could lead XRP to a measured move toward $1.07. Brandt added that if XRP Price reclaims $3, it will negate the bearish structure.
On the other hand, XForceGlobal maintained a bullish forecast. The analyst claimed XRP’s macro outlook remains intact, predicting $7–$10 by 2026.
Meanwhile, trader Javon Marks pointed to the past price action of XRP. He cited a 570% rally after a falling wedge breakout, suggesting the possibility of another surge. However, current conditions differ markedly.
Market sentiment turned bearish after XRP lost key support. The token has printed lower highs and lower lows since Ripple’s partial win against the U.S. Securities and Exchange Commission.
XRP price drop below $2.05 placed bulls in a weak position. If the price fails to regain this level, selling could accelerate.
Whale exits, liquidation zones, and bearish chart signals continue to weigh on XRP. Unless bulls reclaim major resistance zones, more downside would likely appear.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
