The XRP price under pressure significantly in this last week of October. On-chain data from Glassnode shows an alarming increase in sales by long-term holders. This hodler movement coincides with mixed signals from large whales, creating market uncertainty.
The key metric is the hodler net position change. Between October 19 and 28, outflows from long-term wallets soared by more than 2,200%. These investors went from moving 3.28 million XRP to shedding 77.9 million XRP in less than two weeks. This suggests heavy profit-taking following the asset’s recent rebound, indicating they prefer to reduce exposure rather than accumulate.
Are XRP Whales Sending Contradictory Signals?
The situation is complicated by the lack of consensus among different whale cohorts. Data from the Santiment platform indicates that “mega whales” (holding 100M-1B XRP) are buying. In fact, they increased their holdings from 8.13 billion to 8.24 billion XRP since October 27. However, smaller whales (holding 10M-100M XRP) are actively selling. They reduced their balances from 8.31 billion to 8.27 billion in the same period. Historically, this divergence often precedes price weakness rather than a rally.
Technical analysis reflects this market indecision. Currently, XRP is trading within a symmetrical triangle on the 12-hour chart. The price has held steady in a narrow range between $2.60 and $2.69. The lack of upward momentum keeps the token’s economy on edge. If selling pressure manages to break the $2.60 support, analysts are watching key levels at $2.55 and $2.51. A deeper drop could target the important 0.618 Fibonacci retracement, near $2.46.
For bulls to regain control of the market, they need to overcome the $2.69 resistance. A decisive close above this level could open the path toward a recovery to $2.88. Nonetheless, the current situation leans in favor of the bears. The combination of hodler sales and whale indecision increases the likelihood of a short-term correction for the XRP price under pressure.
