XRP under threat of crashing to $2 as whales move over $250 million

XRP is showing growing signs of weakness from a technical perspective, even as whales moved $251.8 million of the asset. Notably, the cryptocurrency is currently settling around the $2.50 level after experiencing significant short-term capital outflows. Now, an outlook by prominent cryptocurrency analyst Ali Martinez suggests that XRP could find support at $2. In an X post on October 31, Martinez noted that XRP’s daily chart has formed a descending pattern, characterized by lower highs and lower lows, indicating a continuation of the ￰0￱ price analysis chart.) was transferred between two unknown wallets, while 20.9 million XRP ($52.4 million) moved to Coinbase, potentially signaling an intent to sell.

Meanwhile, 4 million XRP (valued at $10.1 million) was locked in escrow at an unknown wallet, offering a minor counterbalance to the bearish ￰1￱ price analysis By press time, XRP was trading at $2.50, up 0.5% in the past 24 hours, while the weekly performance shows a 3.5% ￰2￱ seven-day price chart.) stands at $2.75, placing the spot price 8.4% below this short-term trendline, a bearish signal indicating weakened momentum and potential for further downside if support ￰3￱ 200-day SMA, at $2.64, offers a nearer floor just 4.4% beneath the current price, hinting at mild long-term resilience but underscoring XRP’s struggle to reclaim its mid-term ￰4￱ this, the 14-day Relative Strength Index ( RSI ) registers at 46, firmly in neutral ￰5￱ balanced reading tempers immediate reversal risks but aligns with the SMAs’ cautionary tilt, implying consolidation rather than a ￰6￱ may watch for RSI dips below 40 for deeper pullbacks toward the 200-day SMA or climbs above 50 for renewed tests of the 50-day ￰7￱ image via Shutterstock