Ripple’s XRP has come under heavy selling pressure. Whale wallets dumped over 370 million XRP tokens in just two weeks. This sell-off, worth around $800 million, has stirred concerns about investor sentiment and future price direction. Analyst Ali Martínez noted that the dump began in late March. It continued into April without slowing. This wave of selling came just as Ripple CEO Brad Garlinghouse announced a win in the legal battle with the SEC.
Market Already Priced in Legal Outcome
Even though the SEC has yet to formally conclude the case, analysts agree the outcome was already priced in. Traders had bet on a favorable result. When Ripple confirmed it, many sold their holdings—a classic “sell-the-news” reaction.
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Whales started loading up on XRP after the U.S. elections in November 2024. Their holdings reached a six-year high. This strong demand helped XRP spike to $3.40. However, sentiment changed fast. Political uncertainty rose. Broader market trends weakened. Interest in the lawsuit faded. These factors combined to reverse XRP’s gains. Since then, the token has dipped below $2 several times.
Caution Dominates Whale Strategy
Despite Ripple’s legal progress, major holders continue to sell. This cautious stance reflects broader economic concerns. Whale wallets often move before retail investors, making their actions a signal of what’s ahead.
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Some analysts now eye the potential launch of a U.S.-based XRP exchange-traded fund. Such a product could reignite interest. Still, it also carries risk. Regulatory clarity and institutional moves will shape how this plays out.
The $800 million XRP dump shows a shift in whale sentiment. Even with legal wins, big players are reducing exposure. The market now waits for the next major driver to shape XRP’s direction.
