- XRP trades near $2.43 as Ripple co-founder Chris Larsen sells $120 million in tokens, raising short-term insider-selling concerns.
- ETF optimism and growing institutional use may support a rebound if the $2.40 support holds.
XRP is under the spotlight this week, trading near a crucial support level as Ripple co-founder Chris Larsen offloads $120 million worth of tokens. While the sale reignites concerns about insider selling, broader market developments could still support a rebound if $2.40 holds.
XRP Price Overview
At the time of writing, XRP trades around $2.43, down 0.1% over the previous day. The token has dropped 5.4% in the past week and 18% over the last 30 days, retracing roughly 33% from its July peak of $3.85. Daily trading activity has surged, with 24-hour spot volume reaching $4.12 billion—a 19.9% increase—indicating active participation from both buyers and sellers.
Derivatives activity mirrors this trend, as open interest rises 2.86% and futures volume climbs 14.56% to $5.97 billion, suggesting traders are re-entering positions amid heightened volatility.
Ripple Co-Founder Sale Sparks Sentiment Concerns
On October 20, Chris Larsen sold 50 million XRP, valued at approximately $120 million. The sale, his first major exit since July, triggered social media chatter around “insider exit liquidity.” Despite the pessimism, on-chain data from Santiment shows the market absorbed the selling pressure without triggering panic, and retail fear may be nearing a short-term peak.
The sale compounds earlier turbulence in October, when tariff fears and over $130 million in liquidations contributed to a sharp correction in XRP’s price.
ETF Optimism and Ecosystem Support
Pending XRP spot ETF rulings from CoinShares, Bitwise, and Grayscale could provide a cushion. Analysts estimate a 95% approval probability, potentially unlocking $5–8 billion in inflows. Institutional activity also strengthens the outlook: Evernorth’s $1 billion treasury raise, backed by SBI and Kraken, is tied to XRP holdings, while Ripple’s RLUSD stablecoin nears $1 billion, broadening the token’s practical use cases.
Technical Analysis
XRP currently hovers near its short-term support at $2.40. The relative strength index at 39.9 indicates mild bearish momentum without oversold conditions. If buyers intervene, a rebound toward $2.60–$2.70 is possible. Conversely, a clear break below $2.10 could accelerate liquidations, targeting the next support around $1.80. For bulls, reclaiming $2.70 remains crucial to attempt a move back to the $3.00–$3.15 resistance zone.
While short-term caution persists due to Larsen’s sale, XRP’s price may stabilize if $2.40 holds, supported by ETF optimism and growing institutional adoption. Traders will be watching this critical level closely in the coming days.
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