The price of XRP experienced a 12% bullish push this Monday, reaching $2.53. The rally was a direct reaction to President Donald Trump’s announcement of a $2,000 stimulus check. However, the continuation of this rally toward $3.00 faces serious obstacles. The main one is a 240% surge in profit-taking and a formidable technical resistance zone.
Crucial data from Glassnode casts doubt on the rally’s sustainability. The on-chain analytics platform highlighted that the realized profit volume (measured on a 7-day average) soared from $65 million to $220 million per day since late September. This increase in XRP holders’ profit-taking is concerning. Unlike previous waves that aligned with rallies, this time it occurred during a 25% price decline (from $3.09 to $2.30). Glassnode was clear: “This divergence underscores distribution into weakness, not strength.”
This selling pressure aligns with whale activity. Data from Santiment shows that wallets holding 1 million to 10 million XRP have intensified their selling. This group sold an additional 500,000 tokens in the last 48 hours alone. Their total holdings have fallen from 7 billion to 6.23 billion XRP since early September. Despite this, a recent slowdown in whale outflows, following $650 million in selling, suggests a potential bottom formation.
Can Trump’s stimulus overcome the selling pressure at $2.80?
Macroeconomic optimism, driven by the stimulus and the likely reopening of the U.S. government, is colliding with a harsh technical reality. The XRP price faces immediate resistance at $2.60. The 50-day and 100-day simple moving averages (SMA) converge at this point. However, the real wall is at $2.80. This level is not only the upper boundary of a descending channel but also a key psychological barrier.
Glassnode’s distribution heatmap confirms the severity of this level. A significant cluster of supply, totaling nearly 1.86 billion XRP, was acquired around $2.80. This means many investors will be looking to sell at this point to break even. Technical analyst ChartNerd noted that breaking $2.70 is the first step. Overcoming $2.80 would signal renewed demand at lower levels and facilitate the recovery toward the $3 psychological mark.
