A warning said XRP could slip to as low as $0.98 as large holders continue to sell.

On Oct. 25, blockchain media outlet U.Today reported that analyst Ali Martinez said Santiment data show systematic exits by whale investors are weakening the current price support line.

The key is a decline in large wallets and increased inflows to exchanges. In recent weeks, the number of wallets holding 10 million to 100 million XRP fell to 339 from 351. The outlet said a simultaneous retreat by 12 large wallets is weakening a "safety cushion" that had buffered price declines.

XRP balances on exchanges also rose. Total exchange holdings increased to 11.05 billion from 11.03 billion XRP. It said the additional 50 million tokens are sitting on order books, increasing supply pressure that could push the market lower even if external conditions deteriorate slightly.

In near-term price action, $1.26 was presented as a threshold. XRP is trading around $1.30 on a four-hour chart and is sitting on the lower edge of an ascending channel that buying has defended since August. Martinez viewed the current area as the price holding on at the edge of the rising channel.

If this support holds, buying may absorb the current supply and try to stabilise in the $1.30 to $1.43 range. In that case, XRP would still leave open the possibility of retesting the previous peak at $1.62. The outlet also wrote that if $1.26 holds, buyers can fully absorb the current supply.

If $1.26 breaks, downward pressure could increase sharply. As buyers' stop-loss orders are triggered in succession, $1.11 was presented as the first support. If defence fails after that, a scenario was raised in which the decline shock widens and the price ultimately falls toward the $0.98 area.

The market's watch points are clear. It said whether large holders' selling continues, and whether buying can absorb the additional supply that has moved onto exchanges, will be variables that determine the near-term direction. U.Today said the current attempt at price stabilisation "directly depends on buyers being prepared to absorb supply at key price levels."