Analyst Warns of XRP Downside Risk: Whale Wallet Count Falls to 339 as Exchange Reserves Rise by About 50 Million

October 25: Crypto analyst Ali said in a post that XRP could fall to $0.98 if whale selling continues. Data shows that over the past few weeks, the number of wallets holding 10 million to 100 million XRP fell from 351 to 339; at the same time, the amount of XRP held on exchanges rose from 11.003 billion to about 11.05 billion, an increase of roughly 50 million, and has remained at high levels over the past week, potentially indicating rising selling pressure.

Ali noted that $1.26 is the lower boundary of the price channel XRP has formed since August. If this support level is broken, the price could first drop to $1.11, and a further decline could reach $0.98, roughly 22% below $1.26. This bearish assessment is mainly based on the decline in the number of wallets held by large holders, the increase in XRP reserves on exchanges, and the possibility that the $1.26 support level may fail to hold.