Chris Larsen Gains $764M From XRP Sales Since 2018
XRP is experiencing a bearish trend, trading below $2.5 with declining prices and volume. Traders remain cautious due to the market's short-term outlook filled with fear and uncertainty.
- Chris Larsen, Ripple’s co-founder, has realized over $764 million in profits from XRP sales since January 2018.
- Larsen’s selling coincides with local price peaks, raising questions about current market behavior.
- The pattern of profit-taking during rallies contributes to investor sentiment concerns.
Altcoins, including XRP, are under pressure as many trade near long-term support zones below their 200-day moving averages. Altcoins typically regain momentum only after Bitcoin breaks above its all-time high.
XRP Price Analysis
XRP is consolidating around $2.40, struggling below the 50-day and 100-day moving averages. It faces resistance near the $2.60–$2.70 area.
- The 200-day moving average near $2.00 acts as strong support. A break below could target $1.80–$1.90.
- A move above $2.70 could signal a trend reversal and attract liquidity.
XRP remains vulnerable with indecisive price action and low buying volume. Its ability to stay above the 200-day moving average is crucial to prevent further losses.