Mid-tier XRP wallets, holding between 1,000,000 and 10,000,000 XRP, have offloaded approximately 200,000,000 XRP in the past two weeks, reducing their combined holdings to around 6.74 billion XRP. This significant movement to exchanges has increased market sell pressure, contributing to XRP's current price range of $2.90 to $3.30.
The sell-off is largely driven by profit-taking after XRP's summer rally and macroeconomic uncertainties, including upcoming Federal Reserve decisions. The increased exchange inflows suggest a potential intent to sell, which could affect short-term price momentum. However, the long-term impact on XRP's price will depend on overall market liquidity and buyer demand.
Mid-Tier XRP Wallets Offload 200M Tokens, Heightening Sell Pressure
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