XRP Just 4% From All-Time High, but $1.7 Billion Sell-Off Risk Looms

XRP is close to reaching a new all-time high, currently trading around $3.25 and needing to rise just under 5% to surpass its previous peak of $3.40. However, a significant sell-off is occurring, with investors having sold over 540 million XRP tokens, worth about $1.74 billion, in the last ten days. This selling pressure, potentially driven by profit-taking after XRP exceeded $3.00, could hinder its ability to reach a new high. Long-term holders are also slowing down their accumulation of XRP. If XRP fails to hold above the $3.00 support level, it could decline further, potentially to $2.65. Conversely, if buying interest continues and the broader market stays positive, XRP could break through the $3.40 resistance and move towards $3.80.