XRP whales have offloaded 640 million tokens worth $1.91 billion in the past month, as bearish divergence on the chart suggests weakening momentum. Analysts warn of a potential 30% crash in the coming days. Whale wallets have been distributing XRP during price rallies, with most sales occurring between $2.28 and $3.54.

XRP whales have offloaded 640 million tokens since July 9, totaling over $1.91 billion in value. This distribution occurred while XRP was trading between $2.28 and $3.54, marking the second time in a year that whales have been selling during price rallies. Some outflows could be due to internal reshuffling rather than actual selling.

XRP must maintain support above $2.65 to avoid a potential 30% crash, as the weekly chart shows a bearish divergence between rising prices and falling momentum. The relative strength index (RSI) has been making lower highs since January, signaling weakening upside momentum. A break below $2.65 could push XRP towards the 20-week EMA at $2.55 and potentially to the 50-week EMA at $2.06.

Read more at Cointelegraph: XRP Whales Offload $1.9B, Putting Price at Risk of Drop Toward $2