The token is trading near $3.02, with analysts warning of a possible dip toward $2.78 if selling continues.

According to market analyst Ali Martinez, whales have unloaded approximately 200 million XRP in the past two weeks, raising concerns over sustained downward momentum.

Data from Santiment shows that major wallets holding between 1 million and 10 million XRP significantly reduced their positions, coinciding with the latest pullback in price.

Technical indicators also suggest caution. The Relative Strength Index (RSI) on the daily chart is hovering around 53, indicating neutral momentum but leaning toward bearish territory.

At the same time, XRP recently failed to hold above $3.10, with traders eyeing $2.78 as the next key support level.

Ali noted that if selling pressure persists, XRP could retest the $2.90 and $2.80 zones before stabilizing. Failure to defend these levels may trigger a deeper correction.

Despite the bearish signals, XRP has shown resilience around $3.00, where buying interest has repeatedly emerged. Traders will now be watching whether this level holds in the coming sessions or if whales continue to weigh on the market.

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