Key takeaways:
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After dropping 19% in three weeks, XRP faces sturdy resistance at $3.10-$3.00, with key assist at $2.65.
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Whales have offloaded over 640 million XRP tokens since July 9.
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$2.65 aligns with the quarterly VWAP and 0.50 Fibonacci retracement: a drop beneath may undo the Q3 rally.
XRP (XRP) is present process a pointy correction after rallying to a yearly excessive of $3.65 on July 18. Since then, it’s down almost 19%, struggling to reclaim the $3.10–$3.00 resistance zone.
On Saturday, costs briefly dipped to a key assist vary between $2.66 and $2.80 earlier than bouncing again on Sunday, forming the next low.
Information from CryptoQuant knowledge signifies that the retracement seems to be pushed partially by massive holders exiting the market.
Associated: XRP custody goes stay for Korean establishments through BDACS amid ‘sturdy curiosity’
Over the previous three weeks, XRP whale wallets, addresses holding important quantities of XRP, have been steadily offloading their positions.
Between July 9 and Aug. 5, the 90-day shifting common of whale netflows is at the moment unfavorable 640 million XRP (valued at roughly $340 million), suggesting sustained distribution strain that coincides with the current value hunch.
Analyzing XRP’s every day chart, distinguished crypto dealer Nebraskangooner says the altcoin may face a “full pump retrace,” a transfer the place costs may revisit the bottom of the earlier rally at $2.
XRP should maintain $2.65 for an opportunity at new highs
The $2.65 stage is essential for XRP’s bullish market construction. The chart reveals that this stage beforehand acted as a major resistance all through H1 2025.
After lastly breaking above in July, it flipped into sturdy assist, a technical shift in construction. A sustained maintain above this stage is crucial to protect the uptrend narrative.
Crypto analyst Dom says that XRP was capable of retain $2.80, a key preliminary space of curiosity, and at the moment steers away from $2.65, which aligns with the quarterly VWAP (Quantity-Weighted Common Worth).
Associated: Will XRP repeat its 70% rally? Worth nears basic fractal breakout
VWAP represents the common value of an asset traded over a interval, weighted by quantity, and is usually utilized by merchants to evaluate truthful worth.
Dom cautions that any transfer beneath this zone would severely injury the chart, probably invalidating short-term bullish continuation setups.
Moreover, technical analyst Thoughts Dealer says that XRP has accomplished a 50% Fibonacci retracement from its $3.65 excessive. Traditionally, if the 50% stage holds, a renewed push may goal $4.15, i.e, a brand new all-time excessive.
Nonetheless, if XRP breaks beneath $2.65, it dangers slipping again into its earlier vary and probably retesting $2, primarily undoing months of good points and signaling broader weak spot.
This text doesn’t comprise funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a choice.
