XRP Lost 5% as High-Ticket Investors Sell Off, Bug Fixes Delay
Ripple (XRP) price fell 5.22% to $1.31 in 24 hours, underperforming a broader market decline, driven mainly by a surge in whale deposits to exchanges, signalling potential selling pressure.
High-ticket investors, or large holders (whales), moved over 1 million XRP to Binance, pushing average monthly inflow to $112.4 million, its highest since March.
This often precedes sales. The drop coincided with a 3.72% fall in total crypto market cap, driven by a global equity sell-off after mixed tech earnings from Tesla and Meta revived doubts about AI spending.
Profit-taking by large holders amplified a market-wide risk-off move. A slowdown in exchange inflows would signal easing selling pressure. U.S. spot XRP ETFs saw modest inflows of $708,520 on October 21, ending a 13-week streak of consistent demand.
The fixCleanup3_4_0 amendment, bundling fixes for lending, AMMs, and other core XRPL features, was delayed until November. It failed to activate on October 23 after validator support briefly fell below the required 80% threshold two days prior.
Cryptocurrency analysts said this created minor market uncertainty.
Institutional buying momentum has cooled, and network developments are facing minor setbacks. Technically, XRP faces resistance at its 200-day average of $1.39.
Immediate support is $1.30, with a break potentially targeting the October 18 low of $1.25. The key trigger is whether Bitcoin stabilises above $81,300 to curb broader altcoin pressure.
The trend is bearish below $1.39, but oversold conditions near $1.30 could attract dip buyers. A daily close above $1.39 would invalidate the near-term downtrend.
Whale distribution and a weak macro backdrop have pushed XRP below key moving averages. # XRP Lost 5% as High-Ticket Investors Sell Off, Bug Fixes Delay XRP Rises on BlackRock’s iShares Bitcoin Trust Inflow Optimism
