Analyst Warns of 15% XRP Drop But Whales Accumulate $928 Millions’ Worth

• XRP trades at $2.82, close to the key $2.77 support level.
• Analyst Ali Martinez warns of a drop to $2.40 if support fails.
• Whales have accumulated 340 million XRP worth $928 million over the past two weeks.

XRP must hold above $2.77 to avoid a deeper retracement, according to market analyst Ali Martinez. He warned that losing this support could trigger a decline to $2.40, marking a potential 15% drop.

Meanwhile, XRP trades at $2.73, following a 3.7% decline in the past day. XRP has now been on a consistent decline in the past week and month, with over 9% loss in the period. 

XRP Trades Below Critical Support at $2.77

The $2.77 price level has acted as a strong support point for XRP over the past month. The 4-hour chart data shows multiple tests of this zone, with each bounce becoming weaker. Repeated retests of support without significant rebounds often increase the probability of a breakdown.

Related: XRP’s Technical Setup Is the Strongest It’s Ever Been Top Analysts

Martinez stated that a failure to hold above $2.77 would likely trigger a decline of about 15%, sending XRP toward $2.40. Such a move would mark one of the steepest pullbacks for…

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