XRP, a popular altcoin, has experienced a significant price drop of over 33% in the past 24 hours, plummeting to a low of $1.95. The token’s value had surged as high as $3.13 just days ago.
Analysts attribute the downturn to market-wide factors, including recent developments involving U.S. President Donald Trump. However, data from Santiment reveals that large XRP holders, or “whales,” have offloaded a substantial amount of their holdings, totaling 130 million tokens.
The whale sell-off coincided with a sharp decline in trader interest. Coinglass analysis shows that traders in the derivatives market have not displayed strong bullish sentiment, with open interest falling by 36.01% to $3.81 billion.
Liquidation data further highlights the volatility in XRP’s market. Speculators suffered losses of $123.23 million in the past 24 hours, with long positions accounting for the largest share at $98.61 million. The heavy liquidations suggest that overleveraged traders faced significant losses.
While this content is informational and should not be considered financial advice, it emphasizes the importance of thorough research before making investment decisions.
Source: https://thecryptobasic.com/2025/02/03/heres-how-many-xrp-whales-dumped-as-xrp-fell