XRP News Today: XRP Dips 7% Amid Bearish Pattern and Whale Sell-Offs

Ripple’s XRP has drawn attention from analysts amid the formation of a bearish inverted Cup and Handle pattern, with the price hovering near $2.95 [1]. This technical structure has raised concerns that a breakdown below key support levels could trigger a 13% decline toward $2.60. The pattern, typically associated with downward momentum, has been highlighted by several analysts as a potential precursor to significant price action.

In parallel, a broader decline across the crypto market has impacted XRP. Over the past 24 hours, the price fell 7% to reach a low of $2.90, driven by macroeconomic headwinds and increased whale selling of long-dormant coins [7]. Daily trading volume surged by 28% to $8.2 billion, reflecting heightened panic selling. The drop has also seen $41 million in leveraged long positions liquidated, according to Coinglass data, with most of these linked to XRP [7].

A critical level for XRP is $2.80. A daily close below this threshold could confirm a bearish breakdown, potentially accelerating the decline toward the $2.50–$2.60 zone [3]. Analysts have also noted that a drop below $2.73 could lead to further downward pressure, with $2.00 as the next psychological support level [7]. On the other hand, a recovery above $3.00 could signal renewed bullish momentum and open the door for a move toward $3.55 and eventually $4.00 [1].

The broader context suggests a challenging near-term outlook for XRP. The asset is currently facing pressure from U.S. tariff fears, profit-taking, and a broader crypto downturn that has seen Bitcoin dip below $115,000 [5]. These macroeconomic factors, combined with whale sell-offs, could intensify volatility in the short term.

Despite the bearish signals, some analysts remain cautiously optimistic. Crypto analyst CRYPTOWZRD noted that the daily candle closed bearish but the monthly candle showed a strong bullish finish [8]. He emphasized that XRP’s ability to hold above $2.80 could indicate resilience, even as the market remains under pressure.

Looking at the technical indicators, the RSI has retreated from overbought levels to 48, suggesting a potential continuation of bearish momentum [7]. The MACD also shows a bearish crossover, with histogram bars forming below the zero line, indicating weakening bullish momentum and strengthening bearish sentiment.

Some analysts have drawn parallels between the current market dynamics and past rallies. One analyst noted that the negative futures premium since July 24 resembles the setup before XRP's previous major rally from $0.50 to $2.60 [4]. While this could imply a similar move in the future, it is not a guarantee and should be interpreted with caution.

XRP’s year-to-date performance remains positive, with the asset up 57% [5]. However, the recent pullback highlights the importance of managing expectations. If the price breaks the $2.60 support level, further liquidations and downside risk could follow.

Overall, the XRP market is at a critical juncture. The formation of a bearish pattern, combined with broader market weakness, has raised concerns among investors and analysts. The coming days will be crucial in determining whether XRP can hold key levels or if the downward trend will continue.

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Source: [1] Ripple [XRP] – Could THIS bearish pattern drive prices to $2.60? (https://ambcrypto.com/ripple-xrp-could-this-bearish-pattern-drive-prices-to-2-60/)

[3] Ripple's XRP Suffers Sharp 8% Drop Amid Whale Sell-Offs (https://www.binance.com/square/post/27728910913361)

[4] XRP Breakout Targets $15—Analyst Says 'This Is Just The... (https://www.mitrade.com/au/insights/news/live-news/article-3-1005351-20250801)

[5] XRP Dives 6.36% Amid U.S. Tariff Fears and Profit-Taking (https://www.ainvest.com/news/xrp-news-today-xrp-dives-6-36-tariff-fears-profit-pressure-2508/)

[7] XRP Dips 7% as crypto downturn threatens bulls (https://coinjournal.net/news/xrp-price-forecast-xrp-dips-7-as-crypto-downturn-threatens-bulls/)

[8] EladThePreacher's Profile | Binance Square (https://www.binance.com/square/profile/eladthepreacher)