The XRP price has returned to the critical level of $2 after repeated failed attempts to break out, reflecting uncertainty in the market.
Every attempt to rise above the resistance level in the short term has been met with selling pressure, dragging the altcoin back towards this psychological barrier.
XRP holders are in a tug of war.
Whale wallets have begun selling large portions of their holdings. Over the past seven days, wallets containing between 1 million and 10 million XRP have sold more than 390 million XRP, worth over $783 million at current prices.
This level of distribution shows clear frustration among high-value holders who expected a stronger rise. Such selling generally tends to weigh heavily on market sentiment, especially when driven by a group that can significantly influence liquidity.
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Despite the distribution from whales, long-term holders are countering the downward pressure. HODL Waves data shows that the share of the XRP supply held by the 1-year to 2-year cohort increased from 8.58 percent to 9.81 percent last week.
This signals growing conviction among mature holders who acquired XRP less than a year ago and are now choosing to hold their tokens through volatility. This stability helps to stabilize XRP at $2, mitigating the impact of whale selling.
XRP is trading at $2.00 at the time of writing, a crucial psychological and technical support level. In recent days, price movements have repeatedly gravitated back to this point, confirming its importance in maintaining market structure.
Given the conflicting pressure from whale selling and long-term holders' accumulation, XRP is likely to remain within a price range between $2.00 and $2.20 until a clear direction changes. A shift in sentiment or improved market conditions would be necessary to break this consolidation pattern.
But if bearish momentum strengthens and whale selling accelerates, XRP could break through the support at $1.94. Such a breakdown would expose the price to a deeper decline towards $1.85, invalidating any short-term bullish expectations.
