Despite significant selling pressure from large holders, XRP has demonstrated remarkable resilience by maintaining its position above the critical $3 support level. According to Santiment data, whales sold 40 million XRP tokens (worth approximately $120 million) within a 24-hour period, marking a continued trend of liquidation by large investors holding between 10 million and 100 million XRP.
XRP price defied the selling pressure, reaching $3.04—its highest level since late August—and was trading at $3.05 at the time of reporting. The token showed a daily gain of 0.83-1.5% and a weekly increase of 7.63-9%, with its market cap surpassing $180 billion.
Regulatory uncertainty persists as the U.S. SEC recently delayed its decision on the Franklin Templeton XRP ETF, adding to market pressures. However, the launch of the REX-Osprey XRP ETF has been watched as a potential catalyst for institutional interest, though comparisons to the underwhelming performance of their Solana ETF (SSK), which saw only $205 million in inflows, temper expectations.
Meanwhile, short positions have been opened between $3.3 and $3.6 on major exchanges like Binance, Coinbase, and OKX, indicating trader anticipation of a near-term price decline. Analysts are monitoring key resistance levels at $3.25 and $3.37 for potential bullish breakthroughs, with some projecting targets as high as $4-5 if positive momentum continues.