XRP Millionaires Shift from Accumulation to Significant Selloff in September

XRP's large holder cohort, with holdings between 10 million and 100 million XRP, transitioned from accumulation in late August to significant selling at the start of September. This change raises concerns about XRP's price sustainability amidst recent rejections above $2.8.

XRP Millionaires Begin Selling in September

Wallets holding 10-100 million XRP increased their holdings from 11.67% to 12.19% of circulating supply by August's end.
Their total stash grew from approximately 7.5 billion XRP to 7.85 billion XRP during this period.
On September 1, whale holdings dropped to 11.77%, with balances falling to 7.61 billion XRP by September 3.

XRP Chart

This decline suggests large holders may be taking profits, introducing downside pressure on XRP's price.

Outlook for September

Historically, September has shown mixed results for XRP, with notable gains and losses.
Last red September occurred in 2021 with a 20.1% drop; however, subsequent years saw positive performance.
XRP is currently trading at $2.82, reflecting a 0.2% increase over the past 24 hours.

Continued selling by millionaire wallets could weaken bullish sentiment, potentially leading to further declines in XRP's price action.

XRP Price Action