Key takeaways
What is the impact of XRP whales on price in the context of broader altcoin strength?
XRP whales and STHs are taking profits, generating steady outflows and strengthening resistance at $3.20, while smart money continues the rise elsewhere.
Does this mean a deeper correction is coming?
Whale flow (30DMA) reaching $50 million/day signals increasing selling pressure. Meanwhile, the continued capitulation of STH and Whales suggests that near-term downside risk is high.
Ripple (XRP) whales are running out of patience.
Technically, it’s the only large cap in the red for October, down 1.09% from an opening of $2.80. Another 7% drop and all of September’s 2.56% gains are erased. Additionally, XRP is posting lower highs since July.
Simply put, the bulls are running out of steam and September’s $3.20 high only reinforced the current downtrend bias. Therefore, this level now constitutes a key resistance.
XRP will need to break it to keep Q4 bullish hopes alive.
Source: TradingView (XRP/USDT)
However, short-term holder NUPL has plunged into the “capitulation” zone twice in less than a month, signaling a loss of confidence among recent buyers (holding more than 155 days) who still have net gains of around 27%.
This reinforces AMBCrypto’s thesis: patience among XRP HODLers is running out and Q4 bullish expectations are cracking, forcing STHs to take profits before a deeper decline eats into gains.
The question now: Are these holders seeing something the market hasn’t priced in, or are they just playing it safe? With the movements of XRP whales, STHs could be at the forefront of a larger slide towards a breakdown.
XRP Whales Continue to Dump, Price Pressure Mounts
XRP whales are following the lead of STH.
Notably, smart money reduces positions as net gains are made. With XRP’s NRPL (Net Realized Profit/Loss) in the green, STHs are taking profits, and whale cuts are fueling fears of a deeper correction.
The chart shows XRP whale flow (30DMA) reaching $50 million/day for the first time since August. At the time, XRP fell 8.16% for the month, while other alternatives remained green, showing support for the offerings was fading.
Source: CryptoQuant
In short, XRP’s relative weakness compared to other large caps is not random.
Big money is chasing the rise, and it’s clearly leapfrogging Ripple. With STH and Whales unloading, the $3.20 level provides strong resistance. Thus, October could mark XRP’s third consecutive high since July.
