tl;dr
Ripple’s XRP price dropped over 15% to $3.05 after a large sale of 75 million tokens on Korea’s Upbit exchange. Limited buying depth accelerated the decline from a recent high above $3.65. XRP is now trading near the key $3.00 support level, which may hold to maintain structural stability. Whale inv...
Ripple’s XRP price plunged more than 15% within 24 hours, sliding to $3.05 after a massive sale of over 75 million tokens on the Korean exchange Upbit. Analyst Dom revealed that the large sell-off, amid limited buying depth on order books, rapidly pushed the price downward following a recent peak above $3.65. Currently trading near the critical $3.00 support level, XRP may sustain its structural integrity if this floor holds.
Despite the short-term decline, whale activity signals ongoing accumulation. Analyst Ali Martinez shows that large holders have increased their XRP stash by more than 280 million tokens over the past ten days, a common behavior during volatile market phases. This continued buying by whales might underpin the price if the $3.00 zone remains intact in the coming days.
CryptoWZRD's daily report highlights that XRP/USD and XRP/BTC pairs both closed lower, influenced by rising Bitcoin dominance which often diverts funds away from altcoins. After failing to breach resistance near $3.65, XRP retreated, showing a classic retracement pattern. The price range between $3.00 and $3.10 is now pivotal; a bullish push here could revive gains. Resistance levels near $3.60 and $4.00 remain key barriers that must be overcome to restart upward momentum.
Separately, Ripple’s CEO cautioned users about scam accounts promising giveaways and promotions. The community was urged to avoid interactions with unverified sources and suspicious offers. Meanwhile, XRP continues to attract significant trading volume, hitting $14.2 billion, with long-term forecasts hinting at potential growth toward $15, contingent on holding the $3.00 support.