XRP Eyes $3.1 Breakout Amid Crypto Market Sell-Off and Whale Accumulation
The cryptocurrency market continued its bearish trend into the week, with the total market cap dropping 4.5% over the last 24 hours. This widespread sell-off impacted Bitcoin, Ether, and XRP, among others. Bitcoin fell below $110,000, losing 3.5% of its value, while Ether faced the risk of dropping below $4,400 after hitting an all-time high above $4,900. XRP also experienced a nearly 5% decline, trading below $3 amid heightened market volatility [1].
Despite the downward pressure, XRP remains underpinned by bullish activity within the Ripple ecosystem. On-chain data from Santiment indicates that whale accumulation is ongoing: addresses holding between 1 million and 10 million XRP now control 10.6% of the total supply, up from 9.8% in…
