XRP Faces Whale Selling Pressure? Analyst Says a Break Below $1.26 Could Lead to a Drop to $0.98

Odaily reports: Crypto analyst Ali has stated that $1.26 may currently be the lower boundary of the price channel XRP has formed since August. If this support level is broken, the price could first decline to $1.11, and further downside could reach $0.98, roughly 22% below $1.26.

Ali believes that if whales continue selling, XRP could fall to $0.98. Data shows that over the past few weeks, the number of wallets holding between 10 million and 100 million XRP has dropped from 351 to 339; meanwhile, the amount of XRP held on exchanges has risen from 11.003 billion to approximately 11.05 billion, an increase of about 50 million, and has remained at a high level over the past week, potentially indicating increased selling pressure.