XRP has posted a strong move in recent days, climbing over 13% and reaching $2.66 at the time of writing. The daily trading volume stands above $4.4 billion, while the seven-day performance shows a 10% increase. The market has shown a steady rise with consistent buying interest.
On-chain data suggests that some large holders may be reducing exposure during this move. A chart from analyst Ali Martinez shows a visible drop in balances held by wallets with between 1 million and 10 million XRP. This decline began as the price started to rise, which points to possible profit-taking among long-term holders.
Binance Sees Spike in XRP Inflows
Data from CryptoQuant shows that on October 25, more than 50 million XRP were transferred into Binance. This move happened as XRP reached a local high of $2.633. The timing suggests that these inflows may have come from holders looking to sell into the rally.
Leading up to this spike, exchange inflows had been increasing alongside price. Once the large inflow occurred, both price and inflows began to cool. This pattern may suggest that most of the short-term selling took place during the rally itself. Since then, flows have remained low, and price has held steady.
Price Nears $3.00 Resistance
Shorter-term charts show XRP continuing to trade in an uptrend, forming higher lows with each move. Support zones between $2.35 and $2.55 have held during minor pullbacks, keeping momentum in place.
According to CW, the next major resistance area sits at $3.00. This level has been marked as a likely sell zone, where some traders may look to reduce risk or take profits. It’s also a round number level, which often draws attention from both buyers and sellers.
Market Watches Whale Activity
Reports suggest that over 140 million XRP have been moved by large wallets during this rally. This activity has raised questions about the strength of the current move.
As Ali stated,
“$XRP is up 13% in the past few days, but whales seem to be taking profits.”
Whether this selling pressure continues or fades will likely depend on how price behaves near support and resistance. For now, XRP remains in an uptrend, but traders are watching for signs of strength or weakness as it approaches the $3.00 level.