XRP dropped from $2.33 to $2.08 in four days as sellers dominated price action.
Unless buyers return soon, Ripple risks breaching the $2 support and sliding toward $1.90.
Since hitting a high of $2.33 five days ago, Ripple [XRP] has experienced strong downward pressure.
Over this period, the altcoin has declined for four consecutive days, recording a low of $2.08.
Whale exits signal market impatience
Large holders appear to be running out of patience.
Over the past month, XRP whales have dominated the spot market, consistently initiating most of the large-sized orders.
Source: CryptoQuant
This is reflected in the Spot Average Order Size metric, which shows a pattern of predominantly large transactions on the XRP Ledger.
While such size can imply either accumulation or distribution, recent flows point in one direction.
One such order has been observed by Whale Alert, which reported a significant exchange transfer by an XRP whale. A whale transferred 26,896,993 XRP tokens worth $57.7 million to Coinbase.
Often, when a large amount is sent to exchange, it signals intentions to sell or strategic positioning. If such a large transfer leads to a sale, it usually results in significant downward pressure on prices.
Netflow flips green as sellers tighten grip
Source: CoinGlass
Exchange Netflows provide further evidence of sell-side activity. XRP’s Netflow just flipped positive for the first time in six days, reaching $1.1 million.
When inflows exceed outflows, it often suggests that traders are sending assets to exchanges, likely to sell.
Moreover, XRP’s Taker Buy Sell Ratio has remained below 1 for six consecutive days.
Source: CryptoQuant
Therefore, with selling pressure dominant in the market, it suggests that even large orders discussed earlier are mostly sell ones. These conditions leave XRP in a position of weakness and at risk of further losses.
Is XRP staring down a breakdown?
According to AMBCrypto’s analysis, XRP is currently facing strong selling pressure across all market participants. Historically, a higher selling pressure has preceded lower prices unless demand recovers to absorb it.
If the selling pressure continues unchecked and buyer demand doesn’t return, a drop below the $2 psychological support looks likely. A fall to $1.90 is on the cards unless a strong rebound materializes.
However, this bearish sentiment can be invalidated by a daily close around $2.2.
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