40 Million XRP Offloaded in One Day Raises Questions Over Price Direction

• Whales sold 40 million XRP in 24 hours, raising supply pressures.
• XRP trades at $3.03 near resistance, with RSI showing neutral sentiment.

Moves by XRP whales in large volumes have once more rocked the market, with 40 million XRP sold within the last 24 hours. Analyst Ali Martinez emphasized this practice, which brings into the limelight the role of the biggest holders in determining the short-term market dynamics.

Whale Sales Add Immediate Market Supply

The offloading of such a significant volume increases immediate supply in circulation. With whales controlling a meaningful share of XRP’s total issuance, their actions often dictate short-term sentiment. Retail investors typically interpret sell-offs as signals of weakening confidence, compounding downward pressures.

Despite this, XRP’s price has shown resilience. The token trades at $3.03, registering a modest 0.62% gain over the past 24 hours. Yet, the weight of whale sales raises concerns that a pullback could soon follow, especially if retail participation fails to absorb the additional supply. Historical precedent suggests that large disposals often trigger volatility when supply exceeds immediate market demand.

Technical Indicators Point to Potential Correction

Charts from TradingView indicate that XRP is trading close to the upper Bollinger Band. This suggests that the asset is approaching resistance at the upper threshold of its recent range. When prices linger near this level, traders often expect a retracement toward the mid-band, which currently sits near $2.90.

The relative strength index (RSI) stands at 57.34, reflecting neutral sentiment. Neither overbought nor oversold, this reading allows for flexibility in either direction. Should the RSI climb above 70, conditions would suggest an overbought market likely to reverse. Conversely, a drop below 30 would imply overselling and could present a buying opportunity.

Whale Activity Remains Key to Price Direction

Whale movements continue to hold outsized importance for XRP. The 40 million XRP sale demonstrates how concentrated holdings can destabilize sentiment even when price action initially appears stable. Should further large disposals occur, short-term declines remain a distinct possibility.

Retail demand could provide a counterweight, but for now the balance of technical resistance and supply pressure leans toward caution. With XRP trading close to its upper Bollinger Band and whales signaling readiness to sell, monitoring both on-chain flows and technical indicators will be essential for anticipating the next decisive move.