Ripple whales move to sell as XRP price breaks out of three-week-long barrier


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  • XRP price rose by more than 3.3% in the last 24 hours to breach the resistance of $0.667.
  • Ripple whales have managed to sell over 60 million XRP worth $40 million in three days.
  • The MVRV ratio shows that the altcoin still has room to rally before actually suggesting profit-taking.

XRP price is moving upwards once again, and that is considered by many to be a positive sign for their portfolios; interestingly, though, some have been a little too quick in picking up this signal, which has resulted in the selling of the Ripple native token ahead of time.

Daily Digest Market Movers: Ripple whales step forward to sell

Ripple whale addresses have shown a tendency to book profits a little ahead of time in the past as well, which generally results in selling before the price can hit the local peak. A similar behavior can be observed at the moment as well.

Whale addresses holding 1 million XRP to 10 million XRP tokens have sold over 60 million XRP worth over $40 million in the span of three days. Consequently, their holding currently stands at 3.72 billion XRP. These whales sold their supply just as the XRP price began rising in the last three days, including the increase in the last 24 hours where the altcoin shot up 3.68% over the past 24 hours.

Ripple whale holdings

Ripple whale holdings

However, their move was a little earlier than expected since, according to the Market Value to Realized Value (MVRV) ratio, these investors still had some room to grow. The MVRV ratio is an indicator that is used to assess the average profit/loss of investors who purchase an asset. The 30-day MVRV ratio measures the average profit/loss of investors who purchased an asset in the past month. 

For Ripple, the 30-day MVRV sits at 6.7%, which indicates that investors who purchased XRP in the past month are sitting at 6.7% profit. These investors are likely to sell their holdings to realize profits; when MVRV hits 8% to 20%, XRP has undergone major corrections. If a similar outcome is observed this time around, it could trigger a sell-off, which is why this area is termed a danger zone.

Ripple MVRV ratio

Ripple MVRV ratio

Since MVRV is yet to reach there, the whales’ move appears to be a little premature, which also suggests that the XRP price might have room to grow.

Technical Analysis: XRP price rise restarts

XRP price, at the time of writing, was trading at $0.667, marking a 3.68% increase over the past day. The rise began over the past few days and pushed the altcoin to break through a key barrier at $0.644.

This resistance was last breached nearly three weeks ago, which marks a recovery for XRP price. Testing this line as support again would set the altcoin up for rising to $0.700. The price indicators are already hinting towards active bullishness, which is key to further recovery.

XRP/USD 1-day chart

XRP/USD 1-day chart

However, if the cryptocurrency fails to breach the resistance at $0.693, XRP price might see a fall back to $0.644, and losing this support level would invalidate the bullish thesis, causing a decline to $0.600.

Ripple FAQs

Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.

XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.

XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.

XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.