XRP, which has entered a recovery period in the cryptocurrency market, came under sales pressure again after a huge on-chain transfer on October 13. According to Whale Alert data, 23,880,253 XRP (approximately $62.6 million) were transferred to the Binance exchange from an unknown wallet. Such large transfers are often interpreted as “whales are preparing to sell” and negatively affect market sentiment. The XRP price dropped to around $2.50 after the general market crash on October 10.
Technical Outlook and Analyst Comments
The increasing possibility of selling among investors has brought to the fore the risk of losing the $2.50 support level. According to Finbold’s analysis based on OpenAI’s ChatGPT model, it is estimated that if the selling pressure increases, XRP may fall to the range of $ 2.40-2.45, and if intense sales continue, it may drop to $ 2.20.
Pseudonymous analyst Mikybull stated that XRP still has one of the strongest technical structures in the crypto market over the long term. According to the analyst, on the monthly chart, XRP is consolidating around the 1.272 Fibonacci level at $2.34. This region is seen as an important threshold that can carry the price to $6.26 and even up to $21.7 in the long term after a possible breakout. Additionally, the multi-year downward trend has been broken and retested as support around $1.38, indicating that a strong bottom has been formed.
Currently, XRP price is trading at $2.58. The token, which increased by 7% in the last 24 hours, lost 14% in value on a weekly basis. The future of the price will depend on whether the overall market recovery after the sharp sell-off on October 10 continues. If the market recovery continues, this could offset whale-induced selling pressure.
Similar Concerns Across the Market
Sell signals in XRP are also seen in other crypto assets, where whale movements have increased in recent weeks. Ethereum last week 
$4,157.04A transfer worth over $50 million was detected in , and then the price dropped below $4,400 for a short time. Experts emphasize that the tendency of large investors to make profits during this period disrupts the short-term balance of the market.
In summary, the future of XRP depends not only on technical indicators but also on market psychology. The behavior of large investors increases price volatility, especially during periods of low volume. Still, XRP’s long-term potential continues to give positive signals from a technical perspective. However, the biggest obstacle on the way to the $3 resistance seems to be the whales’ short-term selling decisions.
