Large-scale whale sales have been dominating the XRP market, significantly affecting price dynamics. Blockchain data shows that in the past 30 days, major wallets have offloaded approximately $50 million daily, creating intense selling pressure that has tested the $3 support level. Over the past week, XRP has fallen around 7%, dropping 4.7% over the last month, and is currently trading between $2.78 and $2.84, 22% below its summer high of $3.65.
Analyst JA Maartunn reported on X that this consistent whale activity has heightened fear and hesitation among retail investors. Santiment’s October 7 report shows XRP’s positive-to-negative sentiment ratio at its lowest level since April. Despite a 435% price increase since the start of the year, global trade tensions have dampened risk appetite, and historical data suggests that sentiment-driven downturns like this often mark market bottoms.
On the fundamentals side, XRP’s DeFi ecosystem continues to expand. Following the launch of the FAssets compliance protocol on Flare in September, the Total Value Locked (TVL) increased by 28%. While retail participation remains weak, ongoing network activity and institutional use cases support a moderately bullish medium-term outlook.
From a technical perspective, analyst EGRAG Crypto highlights that XRP’s bullish setup remains intact, with an upward movement pattern confirmed by the RSI. A close above $4 could trigger the next wave of gains, while resistance is identified between $4 and $4.50. The key short-term focus is defending the $3 support; if whale selling eases, a rebound is more likely, whereas a break below could push XRP toward $2.70–$2.75. The current narrow trading range indicates a potential for a sharp directional breakout.