Why did the price of Ripple (XRP) drop 8% per day?

TL: DR;

• The entire cryptography market became red on Sunday morning, but some altcoins were struck stronger than others.
• The drop in XRP prices occurred a few hours after a warning from a popular analyst that the whales began to sell their assets.

The third largest cryptocurrency failed to embark on an unexplored territory a few weeks ago, and was stopped at 1% of its $ 3.4 summit in 2018 (Coigecko data). Since then, the asset has not resumed its rally and really slipped to $ 2.8 during the Monday correction.

However, he turned the tables during business week by recovering the coveted line of $ 3. In addition, he jumped at a weekly summit of $ 3.15 on Friday, but his progress was interrupted at that time.

He started to lose value gradually over the weekend, but collapsed in the last 12 hours around Bitcoin and the rest of the alts. Its price dropped to a lower 6 days of $ 2.82, reducing more than 8% on a daily scale from top to bottom.

Despite the recovery of a land at nearly $ 2.9 now, XRP is still more than 5% during the day. This correction for the cross -border token comes not only from the rest of the market, but also from a reversal of strategy by whales.

These major market players have been among the largest propellers in XRP’s overvoltage since the elections by accumulating billions of dollars in the asset in a few months. Now, however, Ali Martinez has shown that they had changed their melody and have indeed unloaded a value of $ 70 million in XRP in a few days.

Whales are particularly important for global market movements because they have the capacity to move it with their big purchases or their sales.

Whales have unloaded more than 70 million $ XRP In the last 96 hours! pic.twitter.com/qee56f4ujt

– Ali (@ali_charts) February 1, 2025