XRP News Today: Institutional Buyers Drive XRP Resilience Amid Market Sell-Off

Ripple’s XRP has maintained resilience in August, with institutional buying cited as the primary driver behind the recent price rally. The asset has traded above the $3.02 support level following a recent peak of $3.35, suggesting a potential consolidation phase. Whale accumulation has intensified, with on-chain activity indicating strong institutional confidence amid broader market volatility. On August 15 alone, large holders acquired 120 million XRP tokens during a $10 billion market-wide sell-off, signaling a strategic accumulation effort [1].

Whale activity has been a critical factor in maintaining XRP’s market support. In the past week, large wallet holders purchased approximately 440 million XRP—valued at around $3.8 billion—despite a wider market correction that saw XRP’s market cap drop by $15 billion. This buying pattern appears to counterbalance retail selling pressure and reinforces the narrative that the current dip may be an accumulation phase rather than a breakdown [1].

From a technical perspective, XRP’s price action has shown signs of momentum. The 4-hour chart forms a symmetrical triangle pattern, with XRP making higher lows since late July. The price remains below the 50-period Simple Moving Average (SMA) at $3.20, which also serves as key resistance for a potential breakout. Candlestick patterns such as spinning tops and indecisive closes suggest a period of consolidation ahead of a potential strong directional move. A bullish engulfing pattern forming between $3.02 and $3.10 could confirm renewed buyer interest [1].

Technical indicators also provide a mixed but not bearish outlook. The Relative Strength Index (RSI) is currently at 48, indicating room for upward movement, while the Moving Average Convergence Divergence (MACD) is flattening, suggesting a potential bullish crossover is on the horizon. If buyers manage to push XRP past $3.20, the next resistance levels are expected to be at $3.38, $3.51, and eventually $3.66. A breakdown below $2.89 would signal a loss of bullish momentum and potentially hand control to the bears [1].

For traders, the current setup offers a medium-term opportunity with defined risk and reward parameters. The recommended entry zone is between $3.10 and $3.15, with a stop-loss at $2.99. Profit targets are set at $3.38 (T1), $3.51 (T2), and $3.66 (T3). Given whale accumulation trends and tightening technicals, XRP could continue its upward trajectory if broader market conditions improve [1].

Historically, increased inflows into large wallets have often preceded price stabilizations and recoveries, especially when exchange reserves are declining and liquidity becomes tighter. This pattern aligns with current conditions, reinforcing the view that institutional demand is a stabilizing force for XRP [1].

Source: [1] XRP Price Prediction: Institutional Buyers Drove August Rally – Will Accumulation Continue? (https://cryptonews.com/news/xrp-price-prediction-institutional-buyers-drove-august-rally-will-accumulation-continue/)