Key moments

• XRP’s price rose 3.41% on Tuesday, reaching $2.16.
• Recent whale activity saw the offloading of $2.34 billion worth of XRP.
• The cryptocurrency market is showing signs of renewed momentum, with various coins experiencing price increases.

XRP Recovers 3.41% After Whales Sell Billions

XRP’s recent price figures have been volatile, with the currency nearly descending to the $2 threshold on Tuesday before staging a 3.41% rebound to 2.16. This momentum coincides with a broader market uptick, with cryptocurrencies like Ethereum and Bitcoin also experiencing gains.

However, this recent positive movement occurs amid significant selling pressure. Over the past seven days, substantial XRP holders have sold more than 1.12 billion XRP ($2.34 billion). Known also as “whales”, large XRP holders can significantly influence market prices through their trading activities, and the total holdings of these addresses now stand at 8.98 billion XRP.

Such large-scale transactions can often signal a lack of confidence among major investors, potentially leading to further price volatility. Should this selling trend persist, it could exert continued downward pressure on XRP’s valuation.

Moreover, despite today’s gains, XRP’s long-term price action remains uncertain. The recent price volatility has left XRP hovering near the $2.02 support level. According to analysts, a successful bounce from this level could signal the right conditions for a more substantial recovery. Without improved market conditions or positive developments, XRP’s potential to surpass the $2.27 resistance level is likely to be limited.

The wider cryptocurrency market has shown signs of renewed momentum, with Bitcoin, Cardano, and other coins experiencing price increases, further contributing to the market’s overall positive sentiment. However, the prices remain sensitive to broader economic factors, including ongoing discussions about a potential U.S. recession and the upcoming tariff policies of the Trump Administration.

The convergence of whale selling and long-term holder accumulation creates a complex and uncertain environment for XRP. The cryptocurrency’s future price action will likely depend on the balance between these conflicting forces and the broader market’s response to prevailing economic and geopolitical factors.