150,000,000 XRP Sold in 48 Hours: Panic or Opportunity?

Over the last 48 hours, large XRP holders moved or sold 150 million tokens. This shift in holdings has caught attention as the asset trades at $2.21, up nearly 10% in the past day.

Meanwhile, the 24-hour volume stands above $4.6 billion. With prices rising and heavy selling taking place, the market now watches for what comes next.

Whale Selling Adds Pressure

Recent data from analyst Ali Martinez confirms that wallets holding between 1 million and 10 million XRP have reduced their balances again. This latest 150 million token movement continues a trend seen since September. The same group of holders has been selling in waves over the past few months.

In October and November, nearly 1.5 billion XRP were disposed of by large market participants. That included a four-day period where 460 million XRP were sold. This pace shows that selling is not new but part of a broader pattern. Despite the pressure, the cross-border token has managed to stay above key support areas, for now.

Key Zones for Buyers and Sellers

XRP has held above a strong support range between $1.85 and $1.95. This area has been tested on several occasions. Each time, buyers entered the market and pushed the price back up. Charts also show XRP breaking above a downward trendline that had held since mid-year.

One analyst, ChartNerd, said,

A double bottom at this level could mean the market is trying to reverse. If the price fails to stay above support, it may revisit earlier lows before trying to move up again. In addition, analyst CW shared that the next major sell zone is near $2.25.

CRYPTOWZRD noted that XRP has turned bullish on both daily and intraday charts. The analyst sees $2.27 as the next upside target. If the price breaks and holds above it, a quick move to $2.75 is possible. They added that a dip to $2.08 with a strong bounce could also give a new long setup.

XRP Ledger Activity on the Rise

While price movements dominate the news, activity on the XRP Ledger is also growing. Over 40,000 account-related operations were recorded recently. More developers are joining the network, and automated market maker (AMM) testing is gaining traction.

Data shows that spot volume has dropped off slightly, as CryptoPotato recently reported. In the past, lower volume after heavy selling has often come before strong moves.

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