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XRP Price Prediction April – Whales Dump Ripple Holdings, Here’s Why

After a few days of relative calm, XRP appears poised for its next major move. Unfortunately for the bulls, the whale accumulation activity suggests that large holders may be preparing for a sharp sell-off. 

Prominent analyst Ali Martinez has revealed that whales offloaded 1.12 billion XRP coins, worth nearly $2.25 billion, in the past 48 hours alone. 

Technical analysts also aren’t impressed with XRP’s price chart, suggesting that the asset could visit the $1.65 support level. 

However, the bulls may just have one saving grace, which could catapult the XRP price to $3 instead. 

Why Did Whales Dump XRP?

The whale accumulation pattern is an excellent market of the XRP price trajectory. 

Despite the broader market uncertainty, XRP impressed investors with its resilience as whales continued to buy the dip. 

However, these savvy investors became unusually quiet over the past few days, suggesting potential uncertainty. Now, just before the upcoming monthly and quarterly close, the whales have decided to offload their holdings, indicating an upcoming sell-off. 

XRP price predictions from prominent analysts also align with their bearish thesis. Veteran technical analyst Peter Brandt suggests that the XRP price chart has formed a head-and-shoulder pattern. 

If the price fails to reclaim the $3 level, it could potentially see a decline to $1. 

Even if a downside move to $1 isn’t on the cards, the XRP price could test the key $1.65 support level before a bullish reversal. 

XRP Price Prediction – This Pattern Could Prove The Bearish Whales Wrong

The XRP price has formed a bullish divergence in its 4-hour chart. In fact, analysts reveal that it has formed a bullish divergence in every timeframe from 15 minutes to 4 hours.