XRP Faces Bearish Pressure as Whales Sell Off
XRP’s price has taken a hit, confirming a descending triangle on the daily chart. This bearish pattern suggests that sellers are in control.whales, or large investors, have also been selling their XRP, adding to the downward pressure.
Over the past week, XRP’s price has dropped by 12%. This decline is partly due to a broader risk-off sentiment in the market. Investors are worried about the U.S.tariffs on Chinese goods and the lack of progress in trade talks.The uncertainty around the Federal Reserve’s policy stance has also dampened investor confidence.
Delays in approving spot XRP ETFs in the U.S. have further contributed to the negative sentiment. On-chain data shows that whales have sold at least 2.23 billion XRP sence the latest U.S. tariffs were announced. This selling activity has likely influenced retail investors,who often follow the actions of large holders.
The social sentiment around XRP has been negative since late September, according to Santiment. This pessimism is reflected in the bearish technical setup. The 20-day simple moving average has crossed below the 50-day SMA, a bearish signal.
Momentum indicators like MACD and RSI are also pointing downward, confirming the bearish trend. The closest support level is at $2.32. If XRP breaks below this level, it could fall further to $1.90, nearly 25% below the current price.
On the upside, the closest resistance is at $2.74. A breakout above this level could signal the end of the downtrend and a potential bullish reversal.
