XRP slid to $2.97 in its sharpest decline in weeks, shedding 5.4% over a 23-hour stretch as retail promoting overwhelmed order books.
The transfer got here on surging volumes that eclipsed every day averages, however whale wallets quietly absorbed the dip — scooping 440 million tokens price $3.8 billion. The divergence between retail capitulation and institutional accumulation units up a pivotal level across the $3.00 mark.
Information Background
• XRP fell from $3.14 to $2.97 in beneath 24 hours, posting its steepest pullback since July.
• Whale patrons added 440 million XRP at the same time as retail merchants dumped holdings.
• A symmetrical triangle sample has fashioned, with a breakout goal close to $3.90 if resistance clears.
• Broader crypto markets noticed correlated weak point amid rising risk-off sentiment.
Value Motion Abstract
• XRP misplaced 5.41% within the 23-hour window ending August 18 at 08:00.
• The heaviest promoting got here between 01:00–03:00, with $3.08 to $2.97 collapse on 172 million quantity.
• Last hour noticed muted restoration try, lifting XRP from $2.97 to $2.98.
• Buying and selling halted within the final 4 minutes of the session, suggesting closure or information disruption.
Technical Evaluation
• Resistance is clustered at $3.08–$3.14, the zone that capped restoration makes an attempt.
• Assist has shifted to $2.96–$2.97, the place whales absorbed provide.
• A symmetrical triangle factors to $3.90 upside goal if $3.26 breaks.
• Golden cross emerged final week, however the sign has but to set off follow-through.
• Volatility stays elevated, with $0.18 intraday vary and 163% spike in quantity versus averages.
What Merchants Are Watching
• Whether or not whales proceed absorbing dips close to $3.00 assist.
• Breakout or rejection at $3.08–$3.14 resistance zone.
• Influence of halted buying and selling in remaining minutes — market glitch or structural weak point.
• Continuation of broader market selloff or stabilization.
• Affirmation of the triangle breakout towards $3.90 or breakdown under $2.96.
