Ripple’s XRP is currently trading near the $2.05 mark, sparking concerns about its future price direction due to recent large-scale whale activity. The token experienced short-term price pressure after major holders reportedly sold hundreds of millions of XRP in the past week, leading to a significant decline in its value.
Whale Activity Drives Price Pressure
According to analyst Ali Martinez, whales offloaded a staggering 280 million tokens in just one week, raising questions about the token’s future performance. The chart reveals that wallets holding between 1 million and 10 million XRP have been consistently reducing their balances since late September, indicating a potential trend in the market. This significant sell-off has led to a decrease in XRP’s price, which has slid from over $3 to just above $2.
Whales sold 280 million $XRP in the past week. pic.twitter.com/0DyORAssj3
— Ali (@alicharts) December 12, 2025
A report from CryptoPotato also noted that more than 500 million XRP, worth over $1 billion, was sold by large holders during the same period. This massive sell-off has resulted in a decline in XRP’s price and a drop in exchange supply to 2.6 billion tokens, with 1.35 billion tokens withdrawn over two months. Additionally, withdrawals from Upbit, South Korea’s leading crypto exchange, are rising for the first time since 2023, indicating a potential shift in market sentiment.
CW stated,
“A new wave of Ripple is starting to emerge on Korean exchanges.”
XRP Holds Key Support Level
XRP is currently hovering around the $2 support level, with CryptoWZRD commenting that the asset has yet to break down. If XRP can hold above $2.1, it could trigger the next move higher, potentially leading to a significant price increase. The token traded between $1.99 and $2.05 over the past 24 hours, showing low volatility, but this tight range could widen if volume increases near resistance or support levels.
Looking back at historical patterns, a chart from ChartNerd compares the current XRP structure to a similar move seen in 2017. In both cases, it completed an ABC correction and bounced from a Fibonacci demand zone, leading to a breakout. If this structure plays out again, the chart points to a potential target near $28, indicating a potential long-term bullish trend for XRP.
Developments in ETFs and DeFi
Outside of price, XRP continues to see growing infrastructure, with 21Shares’ proposed spot XRP ETF nearing approval. The Cboe BZX Exchange has certified its listing, and the ETF, called TOXR, would be the fifth spot XRP product available in the US. The funds have seen 19 consecutive days of inflows, indicating a growing interest in XRP-based investment products.
Separately, Hex Trust is launching wrapped XRP (wXRP), which will allow the token to be used across DeFi platforms and blockchains. wXRP will enable trading without third-party bridges, expanding the token’s reach beyond its native network and providing more opportunities for XRP holders to engage with the DeFi ecosystem.
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