XRP whale wallets are shrinking in number while exchange balances rise. Analyst Ali Martinez, citing Santiment data, flags a risk to XRP's price support. A drop to $0.98 is possible if large holders keep selling.
Large XRP holders are cutting their positions, and U.Today reports that XRP could fall to $0.98 if the selling continues. The warning draws on fresh Santiment metrics that analyst Ali Martinez shared publicly.
Whale wallets thin out as exchange balances grow
Over recent weeks, the number of wallets holding 10 million to 100 million XRP fell from 351 to 339. U.Today says the exit of 12 large holders removes a cushion that previously dampened price drawdowns.
At the same time, tokens are moving onto trading platforms. The total XRP balance on exchanges rose from 11.003 billion to 11.05 billion tokens, an increase of 50 million coins. U.Today describes this as a supply overhang that could push the market lower if conditions worsen.
XRP tests the $1.26 level
On the 4-hour chart, XRP is holding around $1.30, at the edge of an ascending price channel that buyers have defended since August. U.Today calls the $1.26 level the main frontier of this autumn, as profit-taking presses prices against the trend line.
What happens next depends on that support level. If it holds, buyers could stabilize the price within the $1.30-$1.43 corridor and keep the chance of another attempt at the $1.62 peak.
U.Today says a break below $1.26 could trigger a cascade of buyers' protective stop orders, with the first bearish target at the $1.11 support.
Source: U.Today
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