Key Insights
- XRP has fallen below the $2.72 support level, signaling a deepening bearish phase amid strong selling pressure.
- Whale investors offloaded 2.23 billion XRP, intensifying market fear and reducing liquidity across spot markets.
- Technical indicators point to continued downside risks, with the $2 level emerging as the next critical support zone.
The XRP market faced renewed selling pressure this week as broader cryptocurrency volatility dragged major tokens lower. Ripple’s native asset extended losses, slipping to $2.47 after dropping more than five percent in the past 24 hours. The decline pushed the token further into bearish territory, signaling a fragile phase for investor sentiment.
XRP has been consolidating within a descending triangle since late July, with lower highs converging toward a consistent support base near $2.72. The pattern has limited upward movement, while the October 10 downturn reinforced the bearish bias. As a result, the token fell below its prior accumulation range, confirming weaker momentum.
Trading volume has continued to decline, indicating reduced market participation. The Parabolic SAR indicator has also shifted above recent price candles, suggesting that selling activity remains dominant. The next key support area lies between $2.00 and $2.39, a region that has historically triggered recovery attempts.
Whales Trigger Heavy Selling Activity
Significant on-chain movements have deepened the pressure on XRP. According to data from market analyst Ali Martinez, large holders have sold over 2.23 billion tokens since Friday. This mass distribution highlights growing unease among major investors after XRP fails to defend its $2.72 support.
The offloading has weighed on liquidity, restricting potential short-term rebounds. Spot Taker CVD data from CryptoQuant confirms that market sellers continue to outnumber buyers, maintaining a strong bearish tone. This imbalance limits recovery prospects in the near term.
Outlook Turns to $2 Support Zone
Analysts note that the $2.00 region will be critical in determining XRP’s next movement. Historically, this price range has acted as a demand zone, often sparking renewed accumulation following steep declines. However, with sentiment still cautious, XRP remains exposed to further losses if the level fails to hold.
If the support zone sustains, a rebound toward $2.72 could materialize as traders look for technical relief. For now, sellers continue to dominate as XRP struggles to regain momentum amid weak market confidence.
