The price of XRP has dropped by almost 10% over the past month, although it has increased by 1.5% this week. However, the price remains stuck in the range of USD 2.31–USD 1.98, unable to break through the key levels. This tension reflects a divided market behavior, with whales continuing to sell when prices are strong, while significant holders keep accumulating.
The buying and selling pressure from both groups has caused the price of XRP to form a descending wedge pattern, and the bullish reversal signal has not yet been confirmed.
Whales are reducing their holdings, but the main holders are still resisting the pressure.
Whale behavior shows a clear shift towards greater caution.
Wallets holding XRP from 100 million to 1 billion have reduced their balance from 8.32 billion to 8.27 billion since December 7. Another group holding 10 to 100 million XRP has reduced their volume from 11.01 billion to 10.99 billion on December 8. In total, both groups sold approximately 70 million XRP in the past 48 hours, worth about USD 143 million at current prices.
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The selling pressure, although not intense when compared in terms of tokens, has occurred at crucial times as XRP is trying to maintain stability. This pressure helps explain why every time the price breaks out, it tends to stall before gaining momentum.
The resistance is coming back from short and medium-term holders, which is clearly evident from HODL Waves. HODL Waves tracks how long XRP has been held in each coin age period, reflecting that token holders have not moved their coins much.
The group holding XRP for one to three months has increased from 8.52% to 10.31%, while the group holding for three to six months has increased from 9.40% to 10.87%.
These holders often start accumulating when they believe selling pressure is decreasing. Buying during a 10% decline each month indicates that they expect the wedge pattern to eventually resolve in an upward direction.
Thus, XRP is in a balanced state between selling pressure from whales and the group of investors buying during price dips.
This tension is causing XRP's price to move within an increasingly narrowing structure.
The price action of XRP is stalled as buyers and sellers pull in opposite directions.
XRP is forming a descending triangle pattern, which often supports a bullish reversal but can only occur if buyers can decisively push the price out of the range. However, this pattern currently remains a no-clear-advantage option, as selling pressure from whales has pushed the price down while accumulating holders are preventing a deeper drop.
The breakout point is near 2.46 USD, where the downward trend line intersects with the current price movement of XRP. It is essential for the price to close above this level strongly on a daily basis to confirm a reversal. If successful, the next upside targets are 2.61 USD, 2.83 USD, and 3.11 USD.
While the price continues to swing between 2.31 USD and 1.98 USD, this pattern remains valid. However, if the price falls below 1.98 USD, this structure will weaken and pave the way to 1.82 USD, which was a support level in the previous round.
At this moment, the trend is clear: selling from whales continues to hinder the breakout, while medium-term accumulation helps maintain the structure. This triangle pattern will not resolve until one side decisively wins.
