XRP Whales Set Sell Walls at $15 and $32 Amid Bull Rally
The XRP price has been facing long-term selling pressure at $15 and $32 due to major sell walls set by whales on Binance and Coinbase. According to CryptoQuant author CW, Binance whales had previously established a sell wall extending to $15, with liquidity remaining in place. Meanwhile, Coinbase whales have created new sell walls reaching as high as $32 this month.
CW noted that these are the major whale sell walls standing in XRP's order books, but ChartNerd cautioned that the sell orders are not firm price targets or guarantees of an impending rally. The analyst explained that large sell walls can act as supply ceilings, but order-book liquidity is transient because traders can cancel or move their orders at any time.
The whale activity comes as XRP attempts to recover from a pullback following last week's rally. The token climbed to $1.70 before declining 19.18% over the following days and has since rebounded, trading at around $1.45 at press time. ChartNerd identified $1.36 as key four-hour support, and sees immediate resistance between $1.51 and $1.55.
A successful breakout above that resistance opens the way toward $1.80 and $1.94, according to ChartNerd. Conversely, rejection will send XRP back toward the $1.36 support area. The analyst also highlighted a confluence between XRP's lower-timeframe resistance and the weekly 50 EMA around $1.54.
In another update, ChartNerd summarized the setup by saying XRP's upside remains under threat until $1.54 is reclaimed. This makes the $1.51-$1.55 region a battleground for XRP in the near term. A move above it could strengthen the bullish case and put the $1.70 high back within reach.