XRP News Today: Ripple's XRP Falls 8% as Whale Selling Drives Volatility

Ripple’s XRP experienced a sharp 8% decline over 24 hours, falling from a high of $3.17 to a low of $2.90. The most significant drop occurred during the midnight trading session on August 1, when the token lost 3% in just one hour on a trading volume of 259.21 million XRP—nearly four times the usual hourly average. At the time of reporting, XRP traded at $2.91 with a 24-hour volume of $7.4 million, and its seven-day performance showed an 8% slide [1].

The selling pressure appeared to be driven by large holders, or "whales," who offloaded roughly $28 million worth of XRP on a daily basis over the past 90 days. In contrast, on-chain data also showed that over 310 million XRP tokens, valued at nearly $1 billion, had been accumulated during the recent correction, suggesting a shift of tokens from exchanges to off-exchange storage. This accumulation pattern indicates a potential buildup of long-term investor interest, even as the price remains under pressure [1].

Technical analysis highlights key price levels that could influence the token’s near-term direction. Analysts identified $3.23 as a crucial resistance level, above which bullish momentum could resume, and $2.80 as a short-term support zone that, if held, could signal continued buying interest. The monthly candle, despite the recent intraday bearish close, has shown strong bullish momentum, reinforcing the view that XRP remains within a broader bullish trend [1].

Whale activity has added another layer to the analysis. While large holders have been active in selling, they have also been accumulating in recent days, scooping up 60 million XRP tokens. This suggests that whales are not entirely bearish and are likely preparing for potential future price recoveries [2]. Santiment data shows an increase in the number of addresses holding between 10 million and 100 million XRP, pointing to growing confidence from institutional and high-net-worth investors [2].

Market observers have also pointed to $2.65 as a critical support level for XRP, aligning with historical support and the 50-day exponential moving average. A successful test and hold at this level could trigger a reaccumulation phase and potentially draw in more institutional capital [3]. Meanwhile, the broader market context shows that altcoins are cooling after a period of heightened interest, with XRP’s 18.7% drop over the past two weeks reflecting this trend [2].

Exchange losses further highlight the volatility, with over $107 million in losses recorded in a single day, most of it from long liquidations. Despite these challenges, analysts remain cautiously optimistic rather than bearish, noting that XRP’s price action still shows signs of long-term resilience [2]. Ripple’s CTO David Schwartz has also provided some stability by emphasizing the ongoing relevance of the XRP Ledger in Ripple’s global liquidity products, reinforcing XRP’s foundational role in the company’s ecosystem [2].

Sources:

[1] Ripple's XRP Tanks 8% in 24 Hours as Market Volatility Grips Traders - [https://cryptopotato.com/ripples-xrp-tanks-8-in-24-hours-as-market-volatility-grips-traders/](https://cryptopotato.com/ripples-xrp-tanks-8-in-24-hours-as-market-volatility-grips-traders/)

[2] Whales Shrug Off FUD After Scooping 60M XRP as $2.65 Becomes Key Support - [https://cryptorank.io/news/feed/43f5e-whales-shrug-off-fud-after-scooping-60-m-xrp-as-2-65-becomes-key-support](https://cryptorank.io/news/feed/43f5e-whales-shrug-off-fud-after-scooping-60-m-xrp-as-2-65-becomes-key-support)

[3] Leap Digital Investments - [https://leapdigitalinvestments.com.au/](https://leapdigitalinvestments.com.au/)