Crypto News
XRP slid roughly 4% over the past 24 hours after on-chain data confirmed a five-day wave of coordinated whale distribution that erased a multi-day rally. According to Ali Charts, wallets holding at least 1 million XRP offloaded more than 30 million tokens between June 14 and June 19, with Santiment showing combined large-address balances dropping from 3.82 billion to 3.77 billion XRP. The token briefly tapped $1.29 before sellers stepped in, and the round-trip from a $1.14 base back to current levels around $1.12 left every June support level behind.
Why it matters
The selling landed directly on spot exchanges, absorbing the buying pressure that had built through the $1.14 base on June 14 and turning what looked like a breakout into a liquidation cascade in derivatives. Hawkish signals from new Fed Chair Kevin Warsh killed near-term rate-cut expectations and hit risk assets broadly, meaning the macro overhang on alts like XRP is unlikely to clear quickly. Spot XRP ETF inflows of $5.30M on June 16 and $2.55M on June 18 — directionally positive but small in absolute terms — were nowhere near enough to absorb the whale supply hitting the books.
Market impact
Momentum indicators are bearish, with price trading below short-term moving averages and down-day volume outpacing recovery sessions. Resistance is now stacked between $1.20 and $1.25, the range where profit-taking overwhelmed buyers, while the next meaningful support zone sits near $1.05 — a daily close below $1.10 would make a test of that level highly likely. A genuine exhaustion of whale selling, paired with an acceleration in ETF inflows, is the path back to $1.20; absent that, $1.05 is the level traders are flagging as the next critical battleground.
Frequently asked questions
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How much XRP did whales sell in five days?
Wallets holding at least 1 million XRP offloaded more than 30 million tokens between June 14 and June 19, per on-chain data cited by Ali Charts. Santiment showed combined large-address balances fall from 3.82 billion to 3.77 billion XRP over the same window.
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Why did XRP drop 4% in 24 hours?
Coordinated whale distribution hit spot exchanges directly, absorbing the buying pressure that had built from a $1.14 base on June 14. A cascade of leveraged long liquidations in derivatives accelerated the move, and hawkish signals from new Fed Chair Kevin Warsh tightened the macro grip on risk assets.
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What were the recent XRP spot ETF inflows?
Spot XRP ETF inflows totaled $5.30 million on June 16 and $2.55 million on June 18 — directionally positive but too small in absolute terms to absorb the 30M+ XRP being sold by large wallets over the same period.
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What are the key XRP price levels to watch?
Resistance is stacked between $1.20 and $1.25, the range where profit-taking overwhelmed buyers during the June rally. The next meaningful support zone sits near $1.05, with a daily close below $1.10 making a test of that level highly likely.
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What would it take for XRP to reclaim $1.20?
Two things need to converge: exhaustion in the whale-selling flow that's been hitting exchanges, and an acceleration in spot ETF inflows beyond the $5M-per-day pace seen on June 16. Without both, the path of least resistance remains lower toward $1.05.
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