XRP whales on a selling spree, offload 70 million in 48 hours; Crash to $2 next?

XRP’s hold on the $2.5 support appears fragile after whales initiated a massive sell-off of the cryptocurrency . Specifically, whales collectively sold around 70 million XRP, worth approximately $178 million, over the past 48 hours, according to on-chain data from Santiment shared by Ali Martinez in an X post on October ￰0￱ whale transaction chart.) continues to serve as a crucial support level, helping maintain XRP’s bullish ￰1￱ market sentiment, XRP’s trajectory will likely depend on broader fundamental factors, such as anticipation surrounding the possible approval of a spot XRP exchange-traded fund ( ETF ). The approval was initially expected in late October but has reportedly been delayed due to the ongoing ￰2￱ ￰3￱ the same time, Ripple’s plan to raise $1 billion to establish an XRP treasury is viewed as another key bullish signal to ￰4￱ price analysis At press time, XRP was trading at $2.54, up over 3% in the past 24 hours, showing minimal impact from whale ￰5￱ the past week, the asset has rallied by nearly 8%.

XRP seven-day price chart.