XRP Price Alert: Whales Sell Off Millions as Ripple Plummets
Ripple's XRP price has been in a state of flux since its massive breakout in August. The token surged from $1.00 to a multi-month peak at $1.70 within 72 hours, but subsequent rejection was violent and led to losses of key support levels.
The latest data suggests more pain is ahead for XRP holders. According to Santiment Intelligence, whales have turned on the cross-border token, with these large market participants selling or redistributing roughly 90 million XRP over the past week.
This move has a two-fold effect: increased immediate selling pressure and an example followed by retail investors. Daily active addresses have also plunged by over 90% from the peak during the rally of 388,492 to 38,163, signaling a significant drop in participation during the correction.