XRP slid 4% in the past 24 hours after on-chain data confirmed a coordinated sell-off by large holders. Wallets containing at least 1 million XRP offloaded more than 30 million tokens over five days, pushing the combined large-address balance down from 3.82 billion to 3.77 billion XRP, according to Santiment.
Whale distribution and price action
The distribution started as XRP briefly touched $1.29. Sellers quickly stepped in, and the token has since consolidated near $1.12. Resistance sits between $1.20 and $1.25, while the next major support level is around $1.05. Traders are watching that zone closely — if it breaks, the sell-off could accelerate.
The whale activity isn’t the only factor weighing on the token. XRP spot ETF inflows have slowed: $5.30 million came in on June 16, followed by just $2.55 million on June 18. The drop in institutional buying interest coincides with the broader risk-off mood in crypto markets.
Fed headwinds hit risk assets
Newly appointed Federal Reserve Chair Kevin Warsh delivered hawkish signals this week, effectively killing hopes for near-term rate cuts. His comments rattled risk assets globally, and XRP, like most cryptocurrencies, felt the pressure. The macro outlook now adds another layer of uncertainty for traders already dealing with heavy supply from whale wallets.
Meme coin presale raises $4.8 million
In a separate development, the Maxi Doge presale drew $4.8 million at a token price of $0.0002824. The project offers dynamic staking APY, though details on the exact percentage weren't disclosed. The raise shows that speculative demand for meme tokens remains strong even as larger-cap coins face selling pressure.
