Whale Profits Dent XRP Price Momentum

The XRP price rally has lost momentum as investors begin profit-taking, with the price struggling to break above the $0.85 resistance level. On-chain indicators suggest that whale investors may succumb to bearish pressure, as the Relative Strength Index (RSI) drops below 70. A cluster of XRP whales holding 10 million to 100 million coins has started selling, potentially causing the price to stagnate below $0.80. If retail investors follow suit, the XRP price could drop towards $0.70. The bears could target $0.70, and if that support level is breached, XRP may drop further towards $0.65. However, if the bulls manage to scale the $0.85 resistance, XRP could reach a new 2023 peak of $0.90.