XRP has emerged as one of the worst-performing major cryptocurrencies this week, facing double-digit losses while its peers like Bitcoin and Ethereum saw modest pullbacks.
XRP Price Falls Over 13% as Selling Pressure Mounts
Over the last seven days, XRP dropped by as much as 13.50%, significantly underperforming Bitcoin’s 2.25% decline and Ethereum’s 0.50% slide. As of Wednesday, XRP was still down around 10%, placing it just above volatile memecoins like Dogecoin and Fartcoin, which posted losses of roughly 20% and 35% respectively.
This sharp underperformance has raised concerns that XRP could break below the $3 mark if current selling pressure continues.
Ripple Co-Founder’s Massive Transfers Spark Panic
One key catalyst behind XRP’s drop was a series of large transfers initiated by Ripple co-founder Chris Larsen. Between July 17 and the following days, Larsen reportedly moved nearly $175 million worth of XRP, with $140 million landing on crypto exchanges.
Traders interpreted this as a sign of insider selling near the recent high of $3.60, prompting widespread profit-taking.
Over 93% of XRP Supply in Profit Triggers Selling Wave
According to Glassnode, 93.24% of XRP’s total supply was in profit after the recent rally. In comparison, Ethereum’s profit-sitting supply is around 84.70%.
Historically, when over 90% of supply is in profit, it often marks a local top as holders rush to realize gains.
This profit saturation likely intensified the selling pressure, especially among short-term traders and institutions shifting capital to stronger-performing assets.
XRP Approaches Realized Price Zones
As of Tuesday, XRP was trading near $3.13, drifting toward the realized price range of $2.30 to $2.80 held by the 1-week to 3-month investor cohort.
This behavior reflects a tendency for XRP to revert to cost-basis support levels after sharp rallies.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.