XRP Price May Drop Another 40% Amid Increased Whale Selling

XRP is exhibiting a developing bear pennant pattern on its two-day chart, which suggests a potential price decline of about 42% down to the $0.80 level if the pattern resolves downward. This bearish technical setup emerged after a sharp sell-off toward $1.12, and the price is currently consolidating below key moving averages. A decisive breakdown below the pennant support, potentially confirmed by a close below $1.20, would signal bears are in command, targeting $1.11 next. Compounding this technical outlook is renewed whale activity, with over 31 million XRP recently transferred to Binance—the largest inflow since January 20—driven primarily by large holders. Analysts view this sudden potential sell-side pressure of nearly $45 million as a significant factor that could hinder XRP's near-term recovery if the selling persists. However, one analyst noted that holding the $1.22 support level could signal a trend shift and slow recovery.

(Source：Cointelegraph)