Ripple’s Price Plummets: Whale Sales Surge Amidst Market Downturn

XRP’s price has experienced a steep decline over the past week, following significant selling activity from large token holders. The recent drop is attributed to increased sales by whales and shifting market trends. 900,000 XRP were sold in just five days, according to analyst Ali Martinez. This action follows a period of price erosion that has seen XRP plummet from over $3.00 to the $2.40 range within the week. The decline is marked by a notable slowdown in large wallet transactions, as evidenced by data on CryptoQuant and CryptoWZRD reports. These figures indicate a drop in selling pressure, potentially paving the way for price stabilization.