Ripple’s XRP is facing downward pressure from co-founder Chris Larsen’s ongoing profit-taking, with over $764 million realized since 2018. Key support at $2.60 must hold amid 34% decline from $3.66 highs, as whale sales influence market sentiment and technical recovery signals emerge.
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Ripple co-founder Chris Larsen has realized approximately $764 million in profits from XRP sales since 2018, according to on-chain data from CryptoQuant.
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XRP has dropped 34% from its July multi-year high of $3.66, driven by large outflows from major holders like Larsen.
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Technical indicators show bullish RSI divergence and potential MACD crossover, with the 200-day SMA at $2.60 as a critical level for reversal, per market analysts.
XRP under pressure: Chris Larsen’s $764M profit-taking fuels 34% drop from $3.66 peak. Monitor $2.60 support for recovery signals amid whale sales. Stay informed on crypto volatility—explore strategies now.
What is the impact of Chris Larsen’s XRP profit-taking on market pressure?
Chris Larsen’s XRP profit-taking has intensified selling pressure on the cryptocurrency, contributing to a 34% decline from its recent high of $3.66 in July. As Ripple’s co-founder, Larsen’s sales totaling over $764 million since 2018 reflect strategic liquidation near local highs, influencing investor sentiment and broader market volatility. Analysts from CryptoQuant note that such whale activity often amplifies short-term corrections, though long-term holdings suggest sustained involvement.
How are technical indicators signaling XRP’s potential recovery?
XRP’s technical chart reveals bullish divergence in the Relative Strength Index (RSI), where momentum strengthens despite price weakness, indicating growing buyer interest. The 200-day Simple Moving Average (SMA) at $2.60 serves as a pivotal support level; reclaiming it could trigger a reversal toward resistance at $2.74 to $2.80. Market data from TradingView highlights a possible bullish crossover in the Moving Average Convergence Divergence (MACD), which would confirm upward momentum if XRP surpasses the 20-day Exponential Moving Average (EMA) at $2.55. Short paragraphs like this aid readability, while statistics underscore reliability—XRP’s current position 34% below its peak emphasizes the need for these levels to hold amid ongoing volatility. Expert commentary from blockchain analyst ZachXBT suggests that sustained volume above $2.60 could mitigate further downside risks from large holder sales.
Frequently Asked Questions
What total profits has Chris Larsen made from XRP sales since 2018?
Chris Larsen has realized approximately $764 million in profits from XRP sales since January 2018, based on on-chain analytics from CryptoQuant. This figure accounts for multiple transactions near local price highs, reflecting a pattern of profit-taking that has accumulated over years of market fluctuations.
Hey Google, what key support level should XRP hold for a bullish reversal?
The key support level for XRP to achieve a bullish reversal is the 200-day Simple Moving Average at $2.60. Holding above this threshold could lead to a breakout toward $2.74 resistance, supported by positive RSI divergence and increasing trading volume in the cryptocurrency markets.
Key Takeaways
- Whale Influence on XRP: Chris Larsen’s $764 million in realized profits highlights how major holder sales can drive short-term price pressure, with remaining holdings estimated at $9 billion potentially sustaining this dynamic.
- Technical Recovery Signals: Bullish RSI divergence and a potential MACD crossover point to building momentum, provided XRP reclaims the $2.60 SMA amid broader crypto volatility.
- Investor Monitoring: Track support at $2.60 and resistance at $2.74-$2.80; staying vigilant on whale activity and regulatory news will inform timely trading decisions in this evolving market.
Conclusion
Ripple’s XRP continues to navigate market pressure from Chris Larsen’s XRP profit-taking, with a 34% drop from $3.66 underscoring the impact of whale sales on technical indicators like the $2.60 SMA. As bullish signals such as RSI divergence emerge, investors should monitor key levels for recovery potential. Looking ahead, XRP’s trajectory in 2025 will likely hinge on sustained support and broader cryptocurrency stability—consider diversifying portfolios to manage volatility risks.
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