While the XRP price has shown a slight increase of 1.5% this week, it experienced nearly a 10% decline last month. The price remains trapped within the range of $2.31–$1.98 and is unable to achieve a significant breakout. This tension indicates that there are two different views in the market: while whales are selling in upward movements, significant groups of investors continue to accumulate without slowing down.
This struggle between the two sides continues to keep the XRP price in a descending wedge formation that has not yet confirmed an upward reversal.
Whales are Reducing Positions: Large Holders are Showing Resistance
The transactions made by whales indicate a clear shift towards cautious behavior.
Wallets holding between 100 million and 1 billion XRP have reduced their balances from 8.32 billion to 8.27 billion since December 7. Another group possesses assets between 10 million and 100 million XRP and pulled their assets from 11.01 billion to 10.99 billion on December 8. In total, approximately 70 million XRP were sold in the last 48 hours; the value of this amount at current prices is about 143 million dollars.
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Although the sales volume is not large enough to be noticeable on a token basis, it is occurring during a sensitive period when the XRP price is trying to find equilibrium. This selling pressure clearly explains why exit attempts have not gained momentum.
On the other side, there are short- and medium-term investors, and this picture is clearly visible in the HODL Waves data. HODL Waves show how long each 'coin age band' of XRP has been held, indicating how long the tokens have not moved.
The proportion of those holding XRP for between one and three months has increased from 8.52% to 10.31%. In the three to six month range, this ratio has risen from 9.40% to 10.87%.
These investors usually accumulate when they believe that the selling pressure has decreased. Their continued buying during a 10% monthly decline underscores their expectations that the wedge will break upward at some point.
In short, there is a strong dilemma in XRP: on one side are selling whales, and on the other side are active investors who buy during pullbacks.
This tension continues to keep the XRP price within the same narrowing structure.
XRP price chart shows a tug-of-war between buyers and sellers: a waiting equilibrium
Currently, in XRP, a descending wedge, which is one of the classic formations, is forming. Normally, this formation supports a bullish breakout, but strong buying from buyers is necessary to initiate a significant move. Right now, the balance remains unchanged: whale sales are cutting momentum while investors who continue to buy are preventing a deeper price decline.
The breakout level is around 2.46 dollars; that is, the downward trend line intersects with the current price movement exactly here. If there is a strong daily close above this level in XRP price, the reversal will be confirmed. Then the targets will be 2.61 dollars, 2.83 dollars, and 3.11 dollars respectively.
As long as the price moves between 2.31 dollars and 1.98 dollars, this wedge will maintain its validity. However, if it drops below the 1.98 dollar level, this formation will lose strength, and the 1.82 dollar region that supports the price will come into play again.
For now, the picture is clear: whale sales are delaying the breakout. Medium-term accumulations are preserving the current structure. The direction in which this wedge will break will emerge only when one side clearly gains an advantage over the other.
