XRP Price Could Plummet 55% as Network Activity Declines and Whale Investors Sell
XRP has fallen below critical support levels at $2.00 and $1.90, turning both into resistance zones as network activity declines and whale investors continue selling.
According to analyst Ali Martinez, XRP's price could drop by as much as 55% based on current market conditions.
The decline in network activity coincides with the holiday season, when investor participation typically decreases. Active addresses on the XRP network have fallen from 46,000 to under 39,000 within several days.
Whale investors have sold more than 40 million XRP in recent days, continuing a two-month selling trend that began in November with the launch of spot XRP exchange-traded funds (ETFs) in the U.S. Large holders disposed of nearly 1.5 billion tokens in less than a month during the initial ETF launch period.