Ripple’s XRP Price Explosion Dreams Hang On as Whales Flee to Crypto Exchanges

XRP traders’ woes continue as expectations for a short-term rebound fail to build momentum. Trading over the weekend triggered a new wave of outflows with the futures market weakening already low sentiments. In the last 48 hours, several large holders have sold the asset, leading to a 5% price drop.

Liquidation Imbalance Triggers Selloff

Per Coinglass data, XRP liquidation imbalance in the futures market stood at 1,178% amid a thickened bear plot. About $229 million worth of assets was liquidated in 24 hours, a similar pattern experienced in previous dips. The wider crypto market has also traded downward, but outflows remain limited. 

On the other hand, XRP has seen larger sales, resulting in a 5% daily decline. At the time of writing, XRP trades at $2.16 with its market cap down to $126 billion. Last week, XRP bulls attempted a short-term comeback to wipe out accumulated losses. While volumes spiked, the market’s bearishness soon clouded traders’ drive.

Outflows in the last 14 days are up to 15% showing little signs of a rebound. In the same period, several large holders have dumped holdings backing other altcoins or simply to limit losses. On-chain data shows 29,532,534 XRP worth approximately $69.8 million transferred to Coinbase coupled with others.

Movements to centralized exchanges point to an imminent sale due to the ease of transfers as opposed to other custodians. These large movements affect asset prices and sentiment as traders gauge exchange reserves as an important signal.

A major factor behind the fall came after traders confirmed a bear flag pattern on daily charts. With the price crash below $2.15, traders recorded growing fears citing institutional decline. On the flip side, bulls await the approval of spot XRP ETFs in the United States to bolster demand. Like Bitcoin, an approval could send the asset’s price to levels not seen in years.

Wider Market Panic Stalls XRP

Although XRP recorded more losses in the last 24 hours compared to top crypto by market capitalization, some traders insist on a rebound higher than other altcoins. Ethereum is down 2%, trading at $1,900, and has faced several losses in March. 

The asset dropped below the $2k mark shortly after a slight rally wiping out gains in the process. Most crypto users expect XRP to lead altcoins into a major rally in Q2 2025. Solana also saw slight losses and trades at $126, while meme coins took the biggest hit due to high volatility.