Whales Dump 470M XRP in 10 Days — Price Slips Below $3 as SEC Delays ETF Verdict

XRP whales dumped over 470M tokens in 10 days, wiping out July's bullish momentum.

SEC postponed decision on CoinShares’ XRP ETF proposal until October 23, 2025.

XRP price now trades below 20-day and 50-day EMAs, showing strong bearish momentum.

XRP is under pressure after whales offloaded 470 million tokens in just 10 days, dragging the price below the $3 mark. The drop comes amid growing market tension as the U.S. SEC delays its decision on multiple spot crypto ETFs, including XRP, pushing a final ruling into October 2025.

Whale Sell-Off Sends XRP Reeling

On-chain analyst Ali Martinez reported that whales holding between 10M–100M XRP coins offloaded nearly 470 million tokens over the past 10 days. The sell-off coincided with a steady price decline, dragging XRP from its July highs near $3.59 down to $2.89 by August 19.

Source: Ali Martinez Via X

Data from Santiment shows whale holdings peaked near 8.5 billion XRP in mid-July. Since then, those balances have declined sharply, now standing at 7.63 billion XRP. This trend has closely tracked price action, with the heaviest selling occurring between August 1–13.

The price chart from TradingView reflects this momentum shift.XRP slipped below its $3.40 resistance, kicking off a pattern of lower highs and lower lows.Although XRP saw a brief bounce, it’s still struggling to push through the key resistance levels overhead.

Technical Indicators Confirm Bearish Momentum

As of August 20, XRP trades at $2.9039, up 1.27% on the day but still in a downtrend. The 4-hour chart shows XRP testing a major support zone between $2.80–$2.85, which aligns with the lower boundary of its long-standing ascending channel.

Source: CryptoRank

The MACD remains stuck in negative territory, with the MACD line at -0.0615 and the signal line at -0.0512. Bearish momentum is still in control, and with no bullish crossover in sight, a recovery hasn’t gained traction yet.

The RSI sits at 38.05, pointing to weak buying interest, though it’s holding just above the oversold zone.On August 18, RSI neared 30, hinting at temporary exhaustion from sellers. However, the failure to hold above $3.30 confirms selling dominance.

SEC Delays Add Pressure to XRP Market

On the regulatory front, the U.S. SEC has pushed back decisions on several spot crypto ETF filings, including XRP. The CoinShares XRP ETF, submitted via Nasdaq, now awaits review on October 23, 2025, as per the latest filings compiled by Steph Is Crypto.

The ETF delay adds to investor anxiety, as institutional interest hinges on regulatory approval. An approved ETF would allow broader exposure to XRP through regulated platforms, increasing accessibility.

However, the delay may be fueling uncertainty, prompting large holders to derisk. The sharp decline in whale holdings since the July peak points to caution ahead of a potentially volatile Q4.

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