XRP Price Faces $0.98 Risk as Whale Wallets Drop, Ali Martinez Warns

XRP faces growing selling concerns as major investors reduce their holdings, prompting crypto analyst Ali Martinez to warn about a potential decline. According to Ali Charts, sustained whale distribution could push XRP toward $0.98, placing the psychologically important $1 level under pressure.

The warning follows a notable reduction in large XRP wallets, suggesting that some major holders are adjusting their exposure. Martinez highlighted the development in an October 25 post, drawing attention to changes in whale holdings across the XRP Ledger.

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XRP Whale Wallets Fall From 351 to 339 as Selling Concerns Grow

Santiment Intelligence data shared by Martinez shows that wallets holding between 10 million and 100 million XRP declined from 351 to 339. This represents a reduction of 12 wallets over recent weeks, raising concerns about selling activity among major investors.

Significantly, these addresses hold substantial amounts of XRP, making their movements important when assessing potential changes in market supply. Large transactions can influence trading conditions, particularly when investors transfer significant holdings to exchanges during periods of weaker demand.

Nevertheless, Martinez considers the reduction a warning that additional whale selling could expose XRP to further downside pressure. His $0.98 projection highlights the potential consequences if major holders maintain their current distribution pattern.

Whale Activity Places XRP’s $1 Support Level Under Scrutiny

Martinez’s warning places greater importance on whether whale holdings stabilize or experience another reduction over the coming weeks. Further declines could strengthen concerns about distribution, especially if selling activity increases while market demand remains relatively weak.

Additionally, the $0.98 target sits below the psychological $1 threshold, making this area important for investors monitoring XRP’s direction. A sustained increase in whale selling could make defending that threshold more difficult for buyers.

Conversely, stabilization among large holders could reduce immediate concerns about further distribution and weaken the analyst’s bearish outlook. Ultimately, Martinez’s projection remains conditional on sustained whale selling, with subsequent wallet activity helping determine whether XRP approaches $0.98.

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