XRP Under Renewed Pressure as Korean Traders Ignite a Wave of Selling

XRP is under renewed pressure as Korean traders ignite a wave of selling that has seen over $120 million in XRP offloaded in just two days

New York: XRP is facing renewed pressure as Korean traders are dumping the token in numbers not seen since the 2017 initial coin offering (ICO) boom, dumping over $120 million of XRP in just two days.

New York: XRP is facing renewed pressure as Korean traders are dumping the token in numbers not seen since the 2017 initial coin offering (ICO) boom, dumping over $120 million of XRP in just two days.

This has pushed the price toward new lows and shaken investor confidence, although 81.6% of XRP’s supply is still in profit. However, with top altcoins slipping further into correction and technical indicators signaling more weakness, could the next stop for XRP be at $1.27?

XRP Still Profitable, But Bearish Sentiment Grows

XRP holders have seen the token slide by 46% since January 16, when it reached a peak of $3.40. However, despite this downturn, on-chain analysis firm Glassnode reports that 81.6% of the circulating supply of XRP is still in profit.

XRP holders have seen the token slide by 46% since January 16, when it reached a peak of $3.40. However, despite this downturn, on-chain analysis firm Glassnode reports that 81.6% of the circulating supply of XRP is still in profit.

This places XRP second only to Tron (TRX) at 84.6%, and ahead of Bitcoin (76.8%), Ethereum (44.9%), and Solana (31.6%). However, the profit percentage has slipped noticeably from a 92% YTD high, showcasing a clear loss of momentum.

Korean Markets Signal Caution as Retail Dumping Begins

The Korean markets, known for their role in February’s XRP rebound, are now signaling a shift in trader behavior.

Earlier this year, between February 3 and 13, Korean buyers were largely responsible for driving up XRP’s price from below $2 to a high of $2.89. But in the past two days, April 6–7, the tides have turned dramatically:

A net $119 million outflow from Korean exchanges is a significant shift, especially considering the rapid pace. This is a collective dumping action by short-term speculators and whale accounts, signaling a loss of retail confidence.

A net $119 million outflow from Korean exchanges is a significant shift, especially considering the rapid pace. This is a collective dumping action by short-term speculators and whale accounts, signaling a loss of retail confidence.

Earlier this year, during the February 13 peak, a single exchange (Bithumb) saw a daily volume of $5 billion—a level not seen since the 2017 ICO boom.

Now, with the volume drying up and technical indicators breaking down, it appears that the bulk of the recent sell-off is being driven by Korean traders stepping away from XRP.

Whale Offloads and Technical Breakdown Signal Trouble

In other developments, large-scale XRP holders are cutting their positions, with over $1 billion in long-held positions liquidated at an average price of $2.10. This indicates that even high-conviction investors are growing cautious.

A glance at the high-time-frame charts shows:

Technical indicators suggest further weakness, with XRP poised to close a daily candle below its 200-day moving average. Typically, this move precedes extended downtrends in crypto markets.

Next Stabilization Point: Key Accumulation Zone Identified

If the current price action continues to break lower, analysts are focusing on a key demand zone between $1.63 and $1.27. This range could provide an opportunity for buyers to accumulate their positions as they anticipate a longer-term recovery.

Volume clusters in this zone suggest prior interest from institutional players and swing traders, indicating that it may act as a floor during further corrections.