
Jakarta, Pintu News – In just two days, the crypto market was rocked by a massive sell-off of XRP. Data from Santiment showed that whale wallets-which hold 1 to 10 million XRP-released nearly 200 million XRP, equivalent to around $400 million, within 48 hours. This pressure compounded the already negative sentiment surrounding the crypto market in general.
XRP saw a drop of more than 10% in 24 hours, breaking the $2 psychological barrier and hitting a low around $1.85. The selling pressure from these whales comes as the crypto market is in extreme fear mode, characterized by:
In addition to the whale action, external factors also aggravated the situation:
This has reduced investor interest in risky assets such as cryptocurrencies.
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Analyst estimates:
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Q1: Who is selling large amounts of XRP?
A1: Whale wallets holding between 1-10 million XRP are known to be the main culprits of this sell-off.
Q2: How much XRP was sold?
A2: About 200 million XRP, worth approximately $400 million, within 48 hours.
Q3: Why has the price of XRP dropped dramatically?
A3: A combination of whale sell-offs, negative market sentiment, macroeconomic uncertainty, and falling prices of major cryptos like BTC and ETH.
Q4: Will XRP drop further?
A4: If it is unable to stay above $1.85 and fails to break $2.30, a drop to $1.50 is possible.
Q5: When can XRP recover?
A5: Price recovery is highly dependent on the end of the whale sell-off and the emergence of positive sentiment from regulation or the launch of an XRP ETF.
Reference.