XRP Price Takes Heavy Hit as Whale Support Fades

The XRP price has been plummeting, falling by around 67% from its all-time high. This makes it the worst-performing major cryptocurrency, excluding stablecoins.

One reason for this decline is an imbalance in margin positions, with too many participants holding long positions. This has left the market without fresh demand and new buyers to push prices higher.

The situation is made worse by large holders gradually reducing their share of XRP. Whale behavior is having a significant impact on the token's price, as these large investors typically provide support during strong sell-offs. However, in this case, they are instead leaving the market, exacerbating the decline.