XRP Price Reversal Likely After $2.81 Billion Selling In 7 Days

XRPUSDT is currently trading at $3.48, only 4% away from its all-time high. Over the past week, exchange wallets saw an influx of nearly 450 million XRP, valued at more than $2.81 billion. This spike in supply indicates that holders are moving their assets to sell, usually a bearish indicator in market cycles.

Despite the proximity, XRPUSDT price is showing signs of weakness and is clinging to the $3.38 support level. Without renewed buying interest, this support may not hold much longer.

If investor selling continues, XRPUSDT could fall through $3.38 and test the $3.00 support. A drop to this level would erase the recent gains and confirm a near-term bearish reversal. The loss of $3.00 could signal a longer consolidation phase or deeper correction.

However, if market participants absorb the sold supply and restore demand, XRPUSDT could rebound quickly. In this scenario, the altcoin might surpass $3.66, breach $3.80, and aim for $4.00. Such a move would invalidate the bearish outlook and set a new all-time high.