XRP 'Whale' Sell-Off Intensifies, Breaking $2 May Become a Reality! Market Confidence Collapses, Where Do We Go From Here?

Ripple (XRP) has recently entered a consolidation phase, with the price hovering around $2.27, far from sustaining the rebound near the 52-week high of $2.80. The key issue is that whale funds continue to offload, with one whale recently moving over $69.24 million worth of 30,171,667 XRP, undoubtedly triggering sell-off signals in the market!

On-chain data further exacerbates market panic, with exchange reserves surging to 2.97 billion XRP, indicating immense selling pressure that could lead to further price declines. Active addresses have dropped by over 7%, participation has weakened, and investor confidence has collapsed.

If XRP breaks below the $2 support, it could trigger panic selling, potentially challenging the Fibonacci support level of $1.70. Bearish sentiment is spreading in the market, with short contracts dominating, and the outlook is not optimistic.

Currently, the market is filled with uncertainty, and XRP's direction in the coming days will determine whether it can break through the $2 mark. Don’t be blinded by short-term rebounds; stay alert and be ready to respond to the ever-changing market.

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