 ▲ XRP, whale/ChatGPT-generated image |
XRP investors are exiting the market after recording the largest losses since 2022. However, the current loss trend is being interpreted as a potential bottom signal driven by large-scale capitulation, triggering strong accumulation by whales.
According to crypto media outlet NewsBTC on March 9, XRP investors realized approximately $1.93 billion in losses over the past week. This marks the largest single-week loss since 2022 and highlights the significant pressure market participants are feeling at current price levels. On-chain data suggests that such sharp realizations of losses have historically served as decisive turning points in forming market bottoms.
Data from analytics firm Santiment’s Market Value to Realized Value (MVRV) indicator shows that XRP has entered oversold territory, signaling a potential buying opportunity. The capitulation phase, during which investors sell at a loss, typically appears in the final stage of a downtrend. Experts note that the scale of the current losses is historically significant, raising the possibility that selling pressure may have reached its peak.
While retail investors are offloading their holdings in fear, large-scale whale entities are accelerating their accumulation. Addresses holding more than 100,000 XRP now control 83.7% of the total supply, demonstrating strong holding conviction. This concentration among whales has steadily increased since February, supporting the view that major investors have firm confidence in a future price rebound.
From a technical perspective, XRP is currently maintaining its position above the key support level around $1.34. To regain upward momentum, it must decisively break through the $1.47 resistance level. A move above this zone could pave the way for a renewed rally. However, if the $1.34 support level fails, the price risks further correction toward $1.28 or even $1.21.
At present, whale accumulation appears to be absorbing the selling pressure from retail investors. Record-level loss metrics are being interpreted as signs that the market’s downward momentum may be exhausted. The high concentration of holdings among whales remains a key indicator likely to shape XRP’s future price trajectory.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. The publisher assumes no responsibility for any investment losses incurred based on this content.
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