- Whale sell-offs and market turmoil push XRP price below key support.
- Bitwise’s XRP ETF debut adds volatility, not buying momentum.
- $1.90 support is crucial for near-term XRP stability.
XRP price has experienced a sharp downturn, slipping below the $2 mark amid a series of whale sell-offs and volatile spot XRP ETF launches.
XRP faces mounting pressure from both institutional flows and broader crypto market turbulence, and the recent activity has raised questions about its ability to hold the critical support at $1.90.
Whales offloading massive amounts of XRP
The XRP market has been heavily influenced by large holders offloading substantial amounts of XRP.
Over the past 48 hours, blockchain data shows whales moving nearly 200 million XRP, generating strong selling pressure that has outweighed buying interest.
Notably, this surge in liquid supply coincided with a broader market-wide flash crash, where Bitcoin fell to a seven-month low of around $82,000, triggering over $1.9 billion in liquidations across crypto markets.
In addition, XRP’s high correlation with Bitcoin has amplified losses, contributing to the token underperforming the broader market.
XRP ETFs bring volatility but fail to spur price momentum
Spot XRP ETFs, intended to boost institutional participation, have produced mixed results so far.
Bitwise’s XRP ETF, which is the latest XRP to go live, debuted with around $25 million in turnover.
While Canary Capital’s XRPC ETF continues to attract attention with $268 million in assets under management, the muted response to Bitwise’s XRP ETF has added short-term volatility rather than market optimism.
The market has most likely interpreted these launches as classic “sell-the-news” events, creating downward pressure on XRP price even as interest in institutional products grows.
XRP price technicals suggest a bearish trend
Technical indicators highlight a challenging environment for XRP.
After breaking below the psychological $2 level, the token is now retesting the critical $1.90 support, which analysts have identified as a major accumulation zone.
In addition, the token has broken below a multi-month descending triangle pattern and a death cross where the 50-day EMA sits below the 200-day EMA, signalling ongoing bearish momentum.
XRP price chart | Source: TradingViewThe RSI currently sits in oversold territory around 30, reflecting extreme market fear but showing no clear signs of reversal.
If the support at $1.90 fails to hold, XRP could face further downside toward $1.80 or even the $1.55 range, marking a significant drop from recent highs.
Staking and regulatory context remain long-term catalysts
Beyond immediate price movements, Ripple is exploring staking solutions on the XRP Ledger to strengthen its presence in decentralised finance (DeFi) and appeal to institutional participants.
While implementation is still distant due to technical complexity, staking could enhance network security and provide long-term incentives for token holders.
Additionally, ongoing regulatory developments, including potential changes to Basel crypto capital rules, may influence institutional adoption.
Adjustments that reduce excessive capital requirements for banks could make XRP a more attractive option for mainstream financial participation, indirectly supporting price stability.
Source: https://coinjournal.net/news/xrp-price-dips-below-2-amid-whale-sell-offs-and-etf-volatility-key-support-at-1-90/
