XRP´s price has endured heavy selling pressure this week, as cumulative outflows approach $130 million. While the outlook appears bleak, a technical signal may still offer a glimmer of hope for a rebound.
Despite the downward momentum, on-chain data highlights significant activity among whales and long-term holders. The pivotal question now is whether XRP can hold a critical support level in the coming sessions.
Whales holding between 10 million and 100 million XRP have trimmed roughly 20 million tokens in the past 24 hours — equivalent to about $56 million. Simultaneously, long-term holders have been offloading: between October 2 and October 10, they shed around 25.9 million XRP, worth approximately $72.5 million. Together, these moves amount to nearly $130 million in selling pressure within a single week.
A Ray of Hope Amid the Downward Pressure
This wave of selling has driven XRP down nearly 4.7% over the week, bringing its price to around $2.80.
On the 12-hour chart, the price is trading below a descending trendline, forming a descending triangle — a pattern that often signals mounting bearish bias.
However, a technical formation known as a hidden bullish divergence emerges: the price is making higher lows while the Relative Strength Index (RSI) makes lower lows. This divergence tends to indicate that selling momentum is weakening.
If XRP can hold above the $2.77 level (the September 27 low), the divergence could validate, potentially opening the path toward $2.95 or even $3.09. But if it breaks below $2.77, the divergence loses strength and XRP may drop toward $2.69 or lower.
In short, the market is under significant selling pressure, yet this lone technical signal may represent XRP’s last chance for a rebound. Everything hinges on whether that critical support zone holds in the coming days.
