Ripple’s token XRP has come under strong selling pressure, falling below the $3 threshold during the latest market slide.
At the time of writing, XRP is trading at $2.90 with a daily trading volume of $7.18 billion. The coin has shed 4% over the past day and is down 12% over the last week.
The decline comes as the broader crypto market struggles. Bitcoin slipped below $115,000, weighing down major altcoins, including XRP. Selling pressure has intensified as investors react to the downturn.
XRP under pressure after 470M whale sell-off
Ali Martinez, a well-known crypto market watcher, noted that whales have been behind much of the activity.
He pointed out that over the last ten days, large holders have sold nearly 470 million XRP, adding heavy pressure on the token’s price. Moves of this scale often create panic among smaller investors, accelerating declines.
XRP buy zone signals hint at short-term rebound
Despite the bearish sentiment, Martinez also highlighted that signals now point to a potential rebound. After correctly calling the recent top, his models now suggest that XRP may be entering a buy zone, hinting at a possible short-term recovery if market conditions stabilize.
For now, XRP’s outlook remains tied to Bitcoin’s performance. If BTC regains momentum above $115,000, confidence could return and support a recovery across altcoins, with XRP among those to benefit.