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- Peter Brandt highlights a technical pattern that could fuel a future breakout of XRP Price.
- Whales have sold 2.23 billion XRP since Friday, October 10.
- BlackSwan Capitalist Founder argued that liquidity management requires a high XRP value.
The price of XRP remains volatile following the latest broader market crash. The declining XRP price has triggered heightened selling pressure among market players, with whales dumping a huge stash.
While the XRP sell-off raises concerns about the future price outlook, a top analyst spotlighted a long-term bullish setup.
Recent XRP Whale Selloff
As revealed in an update by onchain analyst Ali Martinez, large holders, often referred to as whales, sold off 2.23 billion XRP in just a few days.
Based on the current XRP, these coins represent $5.6 billion worth of XRP. This whale action has sparked concerns in the XRP community as the whale activity might impact the price outlook in the short term.
Notably, XRP whale activity has increased over the past few months amid price volatility and general ecosystem developments.
In late August, whales sold 470 million XRP coins in just 10 days. This sale followed deadline extensions by the U.S. Securities and Exchange Commission (SEC) for multiple spot exchange-traded fund applications, including XRP.
The whale dump reflected in price action as XRP dipped to $2.8.
Generally, a large sell-off signals a loss of confidence in the future price performance of an asset.
For XRP, the 2.23 billion units whale dump on the market suggests that large holders are not anticipating a spike soon.
They likely think the digital asset might stay in consolidation mode for a while. As of this writing, XRP is valued at $2.45, demonstrating a 5.2% decrease in the past 24 hours.
The coin previously peaked at $3.6 this cycle. However, investors are now more cautious due to bearish sentiment from whale action and the recent market crash.
Investors’ reduced sentiments also reflected in the trading volume, which dipped by 19.8% to $8.4 billion over the previous day.
Peter Brandt Spotlights XRP Price Long-term Setup
Legendary trader Peter Brandt also shared his take on the price outlook. The trader raised upside potential for XRP.
Brandt analyzed the XRP movement as plotted on the 1-week charts, created by TradingView.
Based on the chart, the price has formed an ascending triangle spanning from 2018 to 2025. Brandt views this pattern as a long-term setup that could ignite future rallies.
Also, the recent breakout above $2 signals potential for multi-fold gains if the upper resistance breaks.
After the tariff-driven market dip erased $30 billion in value, XRP has posted about 8% rebound to $2.58.
Although XRP is still facing a downtrend, several analysts’ views temper optimism. Analyst Martinez previously suggested that XRP will first retest near $2.72 before a breakout, possibly towards $5.
XRP Adoption and Influence on Price
BlackSwan Capitalist founder Versan Aljarrah also shared his opinion on the XRP outlook. The founder highlighted a correlation between XRP price and enterprise adoption.
He argued that XRP needs a higher price to function effectively at a global scale, particularly in managing liquidity for institutional capital and settling cross-border payments.
This contradicts common narratives that emphasizes low price, high velocity. XRP community members have often promoter the idea that XRP can maintain its utility even if its price remains relatively low due to high transaction volumes.
However, Aljarrah thinks otherwise. He believes institutional capital often involves large sums of money, and efficient management of this capital requires a certain level of liquidity.
He, therefore, suggested that the price of XRP must grow exponentially to meet the demands of global financial flows.
