🔵Since the beginning of April, major XRP holders have reduced their positions by more than 370 million tokens — equivalent to approximately $765 million at current prices. According to Santiment data, wallet balances holding between 100,000 and 1,000,000 XRP have been steadily declining. This coincides with rising volatility and suggests a potentially overheated market. Historically, such whale activity has increased selling pressure, limiting upward momentum and triggering corrective moves.
🔵Amid these sell-offs, XRP is trading around $2.08, down over 3% on the day, though still up 13% for the week. The Relative Strength Index (RSI) stands at 49.20, indicating neutral momentum, while the price remains below the 50-day SMA ($2.27), signaling short-term weakness. However, holding above the 200-day SMA ($1.88) maintains an overall bullish structure.