XRP whales redistributed approximately 60 million tokens over the past week according to Santiment data cited by crypto analyst Ali Martinez. The redistribution coincides with XRP breaking below a major support level that held for months, prompting technical analysts to identify the $0.87–$0.92 zone as critical downside targets. The broader cryptocurrency market is experiencing increased selling pressure, with XRP currently trading at $1.16, down 9.18% over the past week per CoinCodex data.
While redistribution does not always indicate outright selling, whale activity is closely monitored by traders because large holders have the ability to influence liquidity and market sentiment. The latest shift in holdings occurs as the broader cryptocurrency market experiences increased selling pressure, raising questions among market participants about whether XRP has reached a local bottom or if further downside remains ahead.
Technical Analysts Identify $0.87–$0.92 Support Zone
Market commentator CasiTrades suggests XRP may be entering a key phase of its current correction based on Elliott Wave analysis. She points to what appears to be a developing subwave 3 decline, typically one of the sharpest and most aggressive stages in a corrective cycle.
CasiTrades highlights that XRP has slipped below a major support level that had held for months. Using Fibonacci extension levels, she identifies the $0.92 zone as a critical downside target, closely aligned with the $0.87 support area that many analysts believe could attract strong buyer interest if tested.
In her scenario, XRP could see a swift drop toward $0.92 before staging a temporary relief bounce toward $1.20. She notes that any recovery may face strong resistance, potentially setting up one final retest of lower support near $0.87.
XRP Trades at $1.16 After Weekly Decline
XRP is currently trading at $1.16 per CoinCodex data, down 9.18% over the past week. With whale redistribution rising and key support under pressure, XRP sits at a point where the $0.87–$0.92 zone may determine whether the next major move is a deeper correction or the foundation for a broader recovery.
Some traders view the pullback as a necessary market reset. Such corrections often help clear excess leverage and speculative positioning, creating conditions for a more sustainable recovery if demand returns at key price levels.
FAQ
How much XRP did whales redistribute over the past week?
Approximately 60 million XRP tokens were redistributed by large holders over the past week according to Santiment data cited by analyst Ali Martinez.
What support levels are analysts watching for XRP?
Market commentator CasiTrades identifies the $0.92 zone as a critical downside target using Fibonacci extension levels, closely aligned with the $0.87 support area that many analysts believe could attract buyer interest if tested.
What is XRP's current trading price?
XRP is trading at $1.16 per CoinCodex data, representing a 9.18% decline over the past week.
