XRP Price Slumps as Whale Activity Dwindles

XRP experienced a massive price surge after breaking through the $1.00 psychological support level on August 19, reaching a multi-month peak of $1.70 in just 72 hours.

However, this rally was followed by a violent rejection, with XRP losing key support levels at $1.60, $1.50, and most recently $1.40.

Nearly 400 million tokens were accumulated by whales in the span of a week, significantly contributing to the breakout.

More recent data shows that these large market participants have sold or redistributed roughly 90 million XRP over the past week, leading to increased selling pressure and a decrease in retail investor interest.