XRP Price Drops as Traders Sell $1.84 Billion in Past Week
XRP has taken a bit of a dip lately, dropping to $1.41, which is 13% down from its recent high of $1.63. It turns out that traders have been cashing out their profits, raking in a whopping $1.84 billion in just one week.
It seems like a lot of long-term holders are behind this selling spree, with MDIA on the decline and a staggering 97% of XRP’s total supply currently sitting pretty in profit. This kind of widespread profit-taking can really put the pressure on the market.
Right now, there’s a crucial support level at $1.33, and if that gives way, we might see XRP sliding down to $1.28. But if buyers start stepping up their game, we could be looking at a potential rebound all the way back up to $1.63.
So, it’s definitely been a bit of a rollercoaster ride for XRP lately. Keep your eyes peeled for any signs of a market turnaround—things could get interesting real soon!
