XRP's price has experienced a significant decline, dropping nearly 27% since early August. The cryptocurrency slid from a high of $3.3 to $2.4, according to recent data from on-chain analytics platform Glassnode. This price decrease coincides with a notable increase in selling activity originating from long-term holders, individuals who acquired their XRP holdings before November 2024.
Glassnode's analysis indicates that long-term holders have substantially ramped up their spending volume. This surge represents an increase of over 580%, with daily spending rising from $38 million to $260 million, calculated on a 7-day simple moving average (SMA).
Since early August, XRP price has dropped from $3.3 to $2.4 (-27% 🔽).
— glassnode (@glassnode) October 31, 2025
At the same time, long-term holders who accumulated before Nov 2024 ramped up their spending by ~580%, from $38M/day to $260M/day (7D-SMA)
A clear sign of seasoned traders exiting and adding pressure to… pic.twitter.com/q5h02AsdrJ
This pronounced increase in selling activity suggests an intensified distribution phase in the market. It appears that experienced investors are capitalizing on recent gains or reducing their exposure following XRP's performance earlier in the year.
Whales Drive Distribution Phase
On-chain data points towards XRP whales, identified as entities holding substantial balances of the cryptocurrency, as primary contributors to the recent selling pressure. These significant holders are often observed accumulating assets during periods of market volatility and distributing them during price rallies, thereby influencing XRP's price trajectory in the medium term.
Such selling trends are indicative of a market shift from a prolonged accumulation phase to a distribution phase. This transition typically precedes short-term price corrections, after which a new market equilibrium is generally established.
Despite the ongoing selloff, crypto analyst Altcoin Gordon has indicated that the next crucial support zone for XRP is anticipated to be around the $2.69 level.
$XRP finding key support at a key level.
— Gordon (@AltcoinGordon) October 30, 2025
Targeting $2.69 next.
Do you understand? pic.twitter.com/eaUuMwOvDe
Glassnode's data reflects a common pattern observed in cryptocurrency markets: when seasoned holders actively sell during periods of price weakness, it often signifies profit-taking rather than distressed selling due to panic. However, with XRP's price currently testing multi-month support levels, the overall market sentiment may depend on whether institutional demand is sufficient to absorb the current selling pressure.

