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XRP Drops 20% as Whales Accumulate Amid Market Panic

The Essentials at a Glance

– XRP, Ripple’s cryptocurrency, has suffered significant losses in recent days.
– The price dropped by 20% from its peak at $3.40 USD.
– Market-wide uncertainties and panic selling are weighing on the entire crypto industry.
– Whales (large investors) continue to show interest in XRP, hinting at possible future movements.

Market Panic Hits Ripple

The cryptocurrency markets are currently in a correction phase, triggered by uncertainties in the US stock market and the so-called DeepSeek controversy. Ripple (XRP) has not been spared from this development. Within a single day, the token lost 11% of its value, with the price slipping below the psychologically important $3 USD mark. Overall, XRP has lost 20% of its value in recent days after briefly reaching a high of $3.40 USD.

However, these losses should not be viewed in isolation. The entire crypto market has lost over 6% of its market capitalization, indicating general uncertainty and waves of selling.

The Role of Large Investors

Despite the price decline, there are signs that large investors continue to show interest in XRP. Since the US elections, XRP worth $4 billion USD has been purchased by whales. This aggressive accumulation previously drove the price above $3 USD.

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However, it remains unclear whether these investors are holding their positions or are in a distribution phase where they aim to realize their profits. A potential indicator of this could be the recent transfer of 29.5 million XRP to Coinbase, which coincided with the 11% price drop.

Key Support and Resistance Zones

The daily chart shows that XRP has repeatedly found support in the $2.30 to $2.40 USD price range since December. This zone could play a crucial role again if the downward trend continues.

If the market situation worsens further, additional selling could push the price down to as low as $2 USD. This could particularly occur if HODLers (long-term investors) decide to secure their profits, similar to what was observed with Bitcoin investors after its recent rise from $68,000 USD to $109,000 USD.

What Does This Mean for You?

For investors, the question arises whether the current decline represents a buying opportunity or if it would be wiser to wait for a bottom formation. The shallow outflows of XRP from Binance indicate that the retail market remains cautious for now.

Long-term investors should keep an eye on the movements of large investors, as they often influence the market. In the short term, the market remains volatile, and it is advisable to proceed with caution.

Our Assessment

The current situation with XRP reflects the uncertainties across the entire crypto market. While the price losses appear concerning in the short term, the activities of large investors demonstrate that there is still interest in the cryptocurrency.

For you as an investor, it is crucial to closely monitor market conditions and base your decisions on well-informed analyses. The support zone at $2.30 to $2.40 USD could be a key area to watch.

Sources:
– CryptoQuant
– TradingView

Casinos: 39
Profile Ripple
Symbol XRP
Coin type Alt Coin
Transaction Speed High
Pros
  • High availability (max. 100 billion coins)
  • Fast and forgery-proof transactions
Cons
  • Criticized for high centralization
Further practical applications
Price $2.75
24h % -1.95 %
7d % 11.67 %
30d % -15.64 %
60d % 9.12 %
1y % 389.51 %
Official Links
Socials X
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Last update: January 28, 2025

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