TL;DR
- XRP trades sideways after a sharp dip, holding support amid whale selling and lower volume.
- Technical charts show a bullish pattern forming, hinting at a potential upside continuation soon.
- Over 470M XRP moved to exchanges as whales sold heavily, but buyers remain active.
Price Moves and Current Market Status
Ripple (XRP) has seen sharp movement over the past day, dropping to $2.82 before recovering to $2.93. The shift followed a wave of buying at lower levels, even as large holders continued to sell. Despite this activity, XRP remains within a broader trading range.
At the time of writing, XRP was priced at $2.9, reflecting a minor dip in the past 24 hours. Over the past week, the asset is down 11%. Trading volume stands at $6 billion, down slightly by 5%. Lower volume levels often follow rapid price changes as market participants reassess direction.
Meanwhile, technical analyst GalaxyBTC pointed out that XRP is forming a rectangular consolidation pattern following its breakout earlier this year. This type of setup shows the price moving within a fixed range, which can often precede a new move in the same direction as the trend that led into the range.
XRP has held above support so far, despite the recent price dip. The asset is moving sideways, but remains above the breakout level, which is a key area for buyers. If the pattern plays out, resistance levels around $3.26 and $3.33 could be the next targets.
Activity From Large Holders and Market Supply
As we reported , whale wallets moved over 470 million XRP to exchanges, mostly targeting Binance. These transfers suggest that some investors are taking profits after recent gains. Some transactions topped 100 million XRP each, pointing to coordinated selling.
However, prior to this wave of sell-offs, the same group of wallets had accumulated over 320 million XRP during earlier pullbacks. This buying activity, valued at nearly $1 billion, helped support prices at key levels.
Recent inflows to exchanges, including an 11.8 million XRP transfer, show that active trading among whales continues.
Short-Term Signal Appears on the Chart
Another technical view comes from analyst Ali Martinez, who noted that the TD Sequential tool has triggered a buy signal on XRP’s hourly chart. The same tool had earlier predicted the peak at $3.65 in July. This time, the signal suggests a possible short-term price bounce.
Broader market conditions have added pressure to digital assets in recent days. Liquidations across the crypto space reached $360 million, as investors pulled out of risk assets. Despite this, XRP’s price has shown resilience, and technical signs suggest that buyers remain active at support zones.
