XRP News: Ripple Whales Dump 370M Coins; What’s Happening?
Highlights
- Ripple whale on selling spree spark investor concerns surrounding XRP price.
- XRP price crashed roughly 16% in the past four days.
- Market watchers anticipate further volatility amid heightened selling pressure and bearish market trends.
XRP News: Ripple whales rattled the crypto market on Wednesday, embarking upon a massive selling spree amid an ongoing price crash. The latest whale data revealed by a renowned crypto analyst, Ali Martinez, showed that 370 million coins were offloaded in the last 96 hours. This dumping saga raised severe market concerns as XRP price slumped roughly 16% during the selling period.
XRP News: Whales Dump 370M Sparking Investor Concerns
According to whale data revealed by analyst Ali Martinez on February 26, Ripple whales sold 370 million coins in the last 4 days. Simultaneously, the coin’s price crashed by nearly 16% during this period.
As per the data, this dumping saga occurred amid a price drop from $2.5 to the $2.1 level. In turn, market watchers remain cautious about whether the token could drop to further lows amid heightened selling pressure brought by whales.
Why Has The 370M Selloff Become Hot XRP News?
It’s noteworthy that the whale dumping saga emerged as captivating XRP news for investors, offering a clear picture of the crypto’s future price movements. Traders and investors are now anticipating a continued downtrend ahead. This bearish projection is attributed to whales’ massive selling and broader market trends.
Notably, the crypto market currently faces extreme volatility triggered by macroeconomic heat and liquidity setbacks. With the new U.S. tariffs set to commence as soon as next week, global markets are taking heat.
In turn, CoinGape reported that the crypto market recorded over $1 billion in liquidations recently. Ripple’s crypto’s recent price fall also aligns with these broader trends.
Market Awaits SEC Lawsuit End
The recently boosted market sentiment for crypto is also waning amid declining buzz around the SEC lawsuit’s end. CoinGape recently reported that attorney James Murphey cited complexities within the XRP lawsuit, anticipating further delay before an endgame. As a result, the short-term buzz around the coin appears to be fading.
How Is Ripple’s Crypto Delivering Now?
As of press time, Ripple’s native coin conversely witnessed a 4% increase, closing in at $2.29. The intraday bottom and peak were $2.08 and $2.36, respectively. Market watchers are stormed as the token defies usual market sentiments in light of such massive selloffs.
However, other key metrics signal that this pump may be short-lived. An XRP price analysis by CoinGape recently revealed that the coin’s burn rate has also witnessed a substantial decline. Stagnancy in the crypto’s supply reduction process amid an ongoing volatile trend has added to market concerns.
Also, Ali Martinez further spotlighted the coin’s price chart on X, revealing that a potential drop to $1.65 awaits. Notably, the analyst states that the coin has broken out of the lower line of an ascending parallel channel, solidifying market concerns as it signals more downside pressure ahead. Traders and investors reflect a cautious approach amid the occurrence of such bearish XRP news.
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