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ZyCrypto 2025-03-06 11:45:52

Ripple’s XRP Enters Local Distribution Phase as Whales Unload at Record Breaking Levels

Ripple’s XRP Enters Local Distribution Phase as Whales Unload at Record Breaking Levels

The month starts rough for XRP , as market whales unload accumulated assets at record levels. It bears mentioning that large holders have been aggressively selling since last year. Following XRP’s 500% price rally in November, whales have slowed accumulation. The current pattern suggests that XRP is in a local distribution phase—a core part of the market cycle. The distribution phase follows the accumulation and markup phases. At this time, sellers and buyers trade sideways, with heightened hope, greed, and fear as market players anticipate a price hike. While many bullish price indicators are spotted during this phase, the market typically shifts as negative sentiment intensifies. With the market poised to witness breakouts, consolidations, and pullbacks around this time, the distribution phase could last for weeks or months, after which the markdown phase begins. On-chain metrics show spike in trading volume as XRP holds support at $2 A key trend worth attention is the massive surge in trading volume as XRP holds support around the $2 price level. The trend indicates that demand for the asset is still strong. Last month, XRP recorded a sharp price decrease from February 25th to February 27th, as selling pressure intensified and market trades halted accumulation. As a result, expectations for March are mixed. At the time of this report, XRP, the third largest crypto by market cap, has seen daily gains cross 5%. XRP also beat BTC and ETH to become the highest weekly gainer, raking in 8.10% in weekly gains. The asset trades at a press time price of $2.6.

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24h Vol
60.37%
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422
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