XRP’s Breakout Faces Hurdles From $143 Million Whale Sell-Off

XRP's price has recently dropped nearly 10% over the past month, currently trading between $1.98 and $2.31, stuck within a falling wedge pattern. This stagnation is due to a market conflict: large holders (whales) are selling into strength, having offloaded about 70 million XRP, valued around $143 million, over the last 48 hours. Conversely, short- and mid-term holders (one to six months) are actively accumulating, increasing their combined holdings significantly. This accumulation suggests they anticipate a bullish resolution to the wedge pattern. For XRP to break out, it needs a decisive daily close above the descending trendline near $2.46; failure to do so keeps the price constrained, with downside risk below $1.98.

(Source：BeInCrypto)