XRP Retail Hit Panic Button: 162M Sold Off

In a sudden turn of events, retail investors have sold a whopping 162 million XRP tokens in the past 24 hours. sauceThe massive sell-off was traced to wallets holding less than 10,000 XRP per wallet, signaling a “wave of surrender” as market participants liquidate positions amid continued volatility and uncertainty.

This retail exodus signals a strategic shift in market sentiment, which often occurs when investors lose confidence in an asset due to concerns that its value will continue to fall. To avoid further losses, they rush to sell, which causes the price to fall due to increased supply, further reducing the asset’s value.

Meanwhile, larger institutional investors are taking advantage of the situation by accumulating XRP at lower prices. These institutional investors have significant capital and long-term investment horizons, and they are shoring up their own positions by crowding out investors who are holding with their own cash.

For the broader XRP community, the recent selloff is a reminder of the importance of staying informed and bullish during turbulent times. While the recent selloff may seem alarming, it highlights the need for careful analysis and steady action to navigate the volatile cryptocurrency world.

Amid this massive sell-off, market experts are predicting a drop of around 30%, in line with the overall market expectation, with one analyst warning that the situation could become even more volatile if prices continue to fall.

XRP faces big challenges

Currently, the value of XRP is trading in the expected range of $0.35 to $0.33. If the price falls below this level, experts believe that it could spell serious trouble for the cryptocurrency. Specifically, if it falls below this key level, it would confirm the bearish scenario indicated by the “yellow count.”

Ripple
Source: Hov

XRP has pushed the expected sell-off to about 30% levels (thread). A move to the confluence of 0.35-0.33 is not impossible, but it gets much deeper than that and the situation starts to get more dangerous. The more dangerous the yellow count we have been tracking for over a year starts to become more and more real.

Despite the current selling pressure, the market remains fluid and has room for recovery, but the next few days will be crucial for XRP, as it needs to maintain stability above $0.33 to avoid a more pronounced bearish trend.

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