XRP is facing intense selling pressure this week, with a staggering 13% price drop triggered by whale movements and broken support levels. The once-bullish token now teeters on the edge of a deeper correction – here’s what every crypto investor needs to know.
XRP News: Whale Activity Sparks Market Panic
The recent XRP price drop coincides with alarming whale movements. Ripple co-founder Chris Larsen transferred $140 million worth of XRP to Binance, fueling fears of an impending sell-off. This massive transaction occurred just as XRP hit its $3.66 peak, creating perfect conditions for a market reversal.
XRP Price Drop: Technical Breakdown
- Key psychological $3 support level broken
- Current trading range: $2.60-$2.80 (critical support zone)
- 93% of XRP holders currently in profit (historically leads to corrections)
- Futures market open interest dropped 21% ($2.4 billion)
XRP Support Levels to Watch
| Support Level | Significance |
|---|---|
| $2.80 | Previous resistance now support |
| $2.60 | Breakdown could trigger mass liquidations |
| $2.30 | 2025 low, strong historical support |
Can XRP Recover From This Sell-Off?
While the short-term outlook appears bearish, some analysts spot potential for reversal. A bullish flag pattern from late 2024 suggests possible $4 targets if XRP can reclaim $3.30. Ripple CTO David Schwartz continues advocating for XRP’s utility as a bridge currency, which could support long-term value.
Frequently Asked Questions
Why did XRP price drop suddenly?
The 13% weekly decline resulted from whale selling, profit-taking by short-term holders, and broken technical support levels.
How low can XRP price go?
If $2.60 support breaks, we could see a test of $2.30. However, the token remains up 57% year-to-date.
Is this a good time to buy XRP?
Caution is advised until the price stabilizes. Watch for confirmation above $2.80 or breakdown below $2.60 for clearer signals.
What’s causing the whale activity?
Large holders appear to be taking profits after the recent rally. The 93% profitability rate historically precedes corrections.
