XRP Price Climbs 4% Despite Fears Over Potential $9B Sell-Off by Ripple Co-Founder
XRP price jumps 4% despite market concerns over a possible $9 billion sell-off by Ripple co-founder Chris Larsen.
The XRP price has soared 4% in the last 24 hours to trade at $3.19 on a 51% plunge in trading volume to $4 billion.
XRP Holders Warned as Ripple Co-Founder Moves 50M Tokens
XRP price hit almost $3.60 on July 17, but the excitement faded after 50 million XRP were moved from a wallet linked to Ripple co-founder Chris Larsen.
Some people saw it as normal profit-taking, while others believed Larsen was selling at the top.
Analyst Maartunn warned that this might be just the beginning. Larsen still holds 2.58 billion XRP, worth about $9 billion, which could lead to much more selling if he decides to move more.
Maartunn warned, “Don’t get dumped on. Don’t be the exit liquidity.”
The warning comes as Bitcoin also faced pressure from a massive 80,000 BTC sale by a Satoshi-era whale, which briefly pushed BTC down to $114,500. In total, the crypto market saw over $500 million in liquidations in one day.
XRP Price Bullish Reversal Unfolds Toward $4.20 Target
XRP is showing strong signs of a bullish comeback, with the price now trading at $3.19, up 0.81% in the past 24 hours. The recent bounce from the $2.90 support level suggests buyers are stepping in, aiming for a new push toward the $4.20 target.
The chart shows that XRP broke past a major resistance near $2.80 earlier this month. After reaching above $3.50, the price faced some selling but quickly found support, forming what looks like a bullish reversal. This indicates that the uptrend could continue.
The Relative Strength Index (RSI) is at 62.36, pointing to strong buying momentum but not yet overbought. This gives room for the price to climb higher if bulls stay in control.
XRP Holds Above $3.00, Break Above $3.50 Could Trigger a Rally
Earlier in the year, XRP dipped to sweep sell-side liquidity around $2.20 before reversing. That move, combined with a shift in market structure and strong demand from the order block zone, helped fuel the current rally.
The chart also shows fair value gaps that XRP has respected, confirming the strength of this bullish trend. If the price stays above $3.00 and breaks through $3.50 again, it could head toward the next resistance zone around $3.90 and eventually hit the $4.20 target.
On the downside, if XRP falls below $2.90, it may retest the $2.60–$2.50 area, which acted as support during the last breakout.
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