XRP Dips Amid Bitcoin Weakness and Whale Selling Pressure
XRP’s price recently faced notable turbulence, as broader market weakness, led by Bitcoin’s slip below $90,000, pulled major cryptocurrencies into oversold territory. In the last 48 hours, whale wallets offloaded nearly 200 million XRP, equivalent to roughly $400 million, creating acute supply pressure that pushed the token to its lowest level in three sessions. This large-scale institutional selling was accompanied by a surge in trading volume, signaling aggressive market participation from major holders.
During the session, XRP declined from $1.96 to $1.91, marking a fresh short-term low, while trading volume spiked 67% above the average, hitting 182.1 million. A descending channel dominated the price action, with intraday volatility reaching 5.1%. However, a capitulation bottom formed at $1.895, followed by a slight 0.5% recovery toward the end of the session, indicating early-stage reversal attempts. Final-hour volume surged to 2.76 million, breaking the prior trend of declining activity and hinting at potential accumulation after the intense sell-off.
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Technical indicators suggest that XRP has entered oversold territory, with momentum tools like RSI and short-term stochastic highlighting strong bearish exhaustion. The first bullish divergence since last week’s breakdown was observed, signaling that a near-term bounce is possible. Still, the macro structure remains fragile. A decisive break above $1.96 is required to invalidate the descending channel and initiate a sustainable trend reversal. On the downside, failing to hold the $1.90 support could open the path to lower levels around $1.82 and $1.73, exposing the token to deeper liquidity zones observed earlier in the year.
Institutional activity remains a critical factor in XRP’s near-term outlook. Bitwise’s recently launched XRP ETF saw $25.7 million in first-day volume and a total $107.6 million in assets under management, demonstrating strong institutional demand despite the broader market pullback. ETF flows and ongoing whale behavior will likely continue to dictate short-term price movements, as sentiment across crypto majors remains fragile amid persistent outflows.
In summary, XRP’s market reflects a classic distribution-driven decline followed by tentative early-stage recovery signals. While technical oversold conditions hint at potential short-term gains, the overall risk remains tilted toward further downside unless key resistance at $1.96 can be reclaimed. Traders should watch closely for institutional buying, ETF inflows, and Bitcoin’s performance, as these will continue to steer XRP’s price action in the coming sessions.
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