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ZyCrypto 2025-03-05 10:49:21

XRP Price Cools Off After Run Towards $3 As Whales Sell At Record Pace: Deeper Pullback Ahead?

XRP Price Cools Off After Run Towards $3 As Whales Sell At Record Pace: Deeper Pullback Ahead?

XRP exploded to nearly $3 after President Trump sounded plans for a United States crypto reserve alongside Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Solana (SOL). The payments-focused token has since retreated 50% to $2.31 at press time, and one crypto pundit observed that XRP whales are secretly making huge moves. XRP Whales Just Cashed Out Harder Than They Ever Have According to data from CryptoQuant, large XRP holders are cashing out. Crypto pundit Kate Young-Ju cited XRP’s volume bubble map which shows increased activity between the $2 and $3 levels over the past month. Although high-volume activity can also indicate buyers, Young-Ju asserted that XRP is presently in a distribution phase. $XRP is currently in a distribution phase. pic.twitter.com/3KJPHs42KC — Kate The Alt (@kate_young_ju) March 2, 2025 For the uninformed, a distribution period is defined as a phase of profit-taking by investors, which typically happens near the peak of a rally. On-chain analyst JA Maartunn shared a similar sentiment, claiming in a recent post on X that XRP is currently undergoing a distribution phase. Using whale flow analysis, Maartun identified that negative whale flows estimated with a 30-day moving average (30-DMA) reached an all-time low zone. He explained : “This metric shows the Whale Flow. They are offloading $XRP like never seen before.” Moreover, XRP reserves on the Binance exchange have spiked to 2.90 billion tokens from 2.72 billion. This increase suggests heightened selling pressure, which aligns with the aforementioned development of XRP’s distribution stage. Is XRP Set For More Losses? Popular crypto pundit Dami DeFi suggested that XRP’s high time frame chart implies high consolidation below key resistance and ascending trendline. “With Trump backing XRP for the U.S. reserve, once it flips this level, it’s game on for price discovery,” Dami Defi added. However, Bitcoin enthusiast Matt C doesn’t think XRP is bullish. He highlighted the formation of an inverse head and shoulder for the altcoin. With the relative strength index (RSI) creating lower highs in XRP’s 1-day chart, Matt believes the token’s recent rally was “exit liquidity”. “No $XRP ideologue will do it… But one should be cashing out & buying $BTC immediately.” One factor that could be dampening enthusiasm among XRP traders is the protracted US Securities and Exchange Commission (SEC) suit against Ripple. While the SEC has already dropped enforcement cases against Coinbase, OpenSea, Robinhood, Uniswap, and Kraken, Ripple remains conspicuously absent from the bevy of dismissals. This uncertainty weakens investor conviction. Nevertheless, a surprise positive resolution in the foreseeable future could spark a meteoric surge in XRP.

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