Cryptocurrency XRP from Ripple experiences a steep 8% decline over the past 24 hours due to market volatility, causing distress among traders.
In the world of cryptocurrency, XRP has experienced a significant drop over the past 24 hours, with the price plummeting from around $3.66 to below $3, reaching lows around $2.73. This sharp decline can be attributed to a combination of factors, including profit-taking after a recent rally, intensified whale activity with large token movements from dormant wallets, and broader crypto market weakness influenced by renewed U.S. trade tariffs triggering risk-off sentiment among investors.
Despite this sell-off, there are signs of potential bullishness on the horizon. A double bottom pattern may be forming as XRP bounces twice from the same support level, which could signal a reversal in the near future. Holding support around $2.85 and reclaiming $3.10 would be important for confirming this bullish reversal. Key resistance levels to watch are in the range of $3.40 to $3.60, where a breakout could push XRP back toward its all-time highs, according to recent expert predictions.
Whale activity has been significant, with over 70 million XRP moving from dormant wallets into active circulation. This shift suggests accumulation rather than immediate selling, indicating that large holders anticipate medium-term gains despite the short-term price drop. However, the influx of XRP tokens released from Ripple’s August 2025 escrow unlock (about 1 billion XRP, with 300–400 million actually entering circulation) also adds mildly to supply pressure.
In the near term, the focus will be on key price levels and monitoring whale behavior. A push beyond $3.30 could potentially lead to a rally toward $3.65, according to analyst CRYPTOWZRD. However, the analyst expects short-term volatility in the market. Intraday analysis shows $3.23 as a key resistance level for XRP. Trading above $3.23 could support a recovery attempt, while a drop below $3 keeps conditions bearish.
Over the past seven days, XRP has seen a 5% decrease. At the time of writing, XRP trades at $2.91 with a 24-hour trading volume of $7.4 million. Movement toward off-exchange storage was observed as exchange balances fell. Over 310 million XRP tokens, valued at nearly $1 billion, were accumulated during the recent correction.
It is important to note that Bitcoin and its dominance are likely to guide market direction in the short term. A confirmed break above the double bottom pattern's resistance and trading above $3.23 could potentially support a recovery attempt.
In conclusion, while the sharp decline in XRP's price is noteworthy, it may not indicate a sustained bearish trend but is influenced by market cycles and macro risks. The focus on key price levels and monitoring whale behavior will be crucial for the near-term XRP outlook.
- The sharp decline in XRP's price can be attributed to a combination of factors like profit-taking, intensified whale activity, and broader crypto market weakness, but recent expert predictions suggest that a breakout could push XRP back toward its all-time highs.
- Whale activity has been significant, with over 70 million XRP moving from dormant wallets into active circulation, and this shift suggests accumulation rather than immediate selling, indicating that large holders anticipate medium-term gains.
- A confirmed break above the double bottom pattern's resistance, trading above $3.23, and the focus on key price levels and whale behavior will be crucial for the near-term XRP outlook, as Bitcoin and its dominance are likely to guide market direction in the short term.
