XRP is showing signs of renewed selling pressure, although its technical structure remains intact as traders closely watch key support levels. Whale activity has also increased ahead of potential major price movements. Meanwhile, Ripple continues expanding XRPL utility through lending, tokenization, and financial infrastructure developments, supporting broader ecosystem growth.
As of now, according to CoinMarketCap data, XRP is trading at $1.30, with an increase of 3.25% over the past 24 hours and a decrease of 3.44% over the past week.
XRP Faces Sharp Sell-Off as Analyst Eyes $1.50 Support Zone
According to a prominent crypto analyst, Celal Kucuker, XRP faced renewed selling pressure following developments surrounding the CLARITY Act, triggering a sharp decline in its price. Despite the sudden sell-off, the broader technical structure remains relatively stable, while the correction could allow XRP to retest key long-term support levels.
On the weekly chart, XRP’s 50-week and 100-week moving averages both sit around the $1.50 region. Traders are closely watching these indicators as they could provide an important support zone if the current pullback continues. A test of this area could therefore become a key point for XRP’s near-term price structure.
The analyst expects XRP could revisit the $1.50 area by next week’s market open if selling pressure persists. However, the decline is being viewed as a potential healthy correction rather than an immediate breakdown of the broader technical structure. Holding the major moving-average zone could help maintain the current market setup.
Beyond XRP, the analyst remains constructive on Bitcoin and Ethereum as well. The market outlook anticipates BTC, ETH, and XRP potentially reaching new all-time highs between December and February. However, this remains a personal market outlook rather than a confirmed forecast, leaving future price movements dependent on broader market conditions.
XRP Price Breakout Fueled by Whale Wallet Growth and Expanding XRPL Utility
The data from Santiment Intelligence further highlights notable whale activity before XRP’s recent breakout. The number of wallets holding at least 1 million XRP increased by 85 just two days before the token surged 67% between August 17 and August 21.
The rise in millionaire wallets suggests that large holders were positioning themselves ahead of XRP’s sharp price move. These wallets can influence market liquidity by absorbing available supply and strengthening buying demand, making their activity an important factor when tracking major market movements.
Meanwhile, Ripple continues to expand the XRP Ledger’s financial utility. The company backed an RLUSD credit fund for fintech and payments lending on XRPL, while investments in ZILO and Licuido added tokenization, transfer-agency, and collateral-mobility capabilities.
As XRP approaches the $1.50 support zone identified by the analyst, its outlook is also supported by whale activity and growing ecosystem development. Elevated numbers of large wallets, expanding RLUSD utility, and institutional tokenization initiatives could give the XRP Ledger a broader use case beyond retail-driven market speculation.
