XRP News Today: XRP Fails to Reclaim Key Level Amid 240M Sell-Off

XRP's recent rally attempt has been hindered by significant selling pressure, preventing it from reclaiming a key volume-weighted average price (VWAP) level that dates back to its all-time high in April 2021. According to an independent trader, Dom (@traderview2), the 12-hour Binance chart shows XRP/USDT trading at $2.4375 at 12:18 UTC-4, marking a 2.08% increase for the session. However, this gain has not been sufficient to surpass the "ATH VWAP," a long-term metric that has been capping intraday advances since mid-May.

The selling pressure is evident, with a net outflow of 240 million XRP across spot venues in the past week. Approximately 180 million of these units were allegedly sold on Coinbase and the South Korean exchange Upbit, while Binance has seen relatively flat activity. This overwhelming selling pressure has made it challenging for passive buyers to sustain the price, as noted by Dom.

The chart also highlights two shorter-term anchored VWAPs that serve as near-term support levels: a one-month rolling VWAP at $2.31 and a three-month VWAP at $2.28. Dom warns that XRP is "hanging on to the monthly and quarterly VWAP by a thread." A decisive breach of these bands around $2.31–2.33 could lead to further declines, potentially dropping to $2.20, which is a significant support level.

Despite Bitcoin's recent consolidation, the correlation between the two assets has not provided relief to XRP bulls. Every minor rise in BTC has been met with fresh spot offers in XRP, indicating the persistent selling pressure. Dom notes that upward moves are difficult to achieve under such conditions.

The technical outlook is clear: reclaiming the ATH VWAP would open the path toward the late-March swing high above $3.00, while losing $2.20 could lead to a decline toward the high-volume nodes stacked below $2.00. Until one of these barriers is breached, XRP remains in a tug-of-war between relentless spot sellers and a thinning layer of passive bids, resulting in a lack of momentum.

At the time of reporting, XRP was trading at $2.36. The analyst concludes that XRP has lost its upward momentum and is currently caught in a battle between sellers and passive buyers, with no clear direction until a significant barrier is breached.