XRP News Today: XRP plummets 15% to $3.05 after Upbit's 75 million token dump triggers market panic

Ripple’s XRP price plummeted over 15% in 24 hours, hitting $3.05, following a massive sell-off on the Korean exchange Upbit, which offloaded 75 million XRP tokens directly into the market [1]. The abrupt move, described as a “pump and dump” by crypto analysts, exploited weak buying depth on order books, accelerating the price drop. The sell-off came after XRP briefly surged above $3.65 earlier in the week, only to be derailed by the sudden liquidity withdrawal [2]. Analysts noted that the $3.00 level has become a critical support zone, with its defense seen as essential for stabilizing the asset’s structure.

Despite the sharp correction, whale activity indicates growing institutional or high-net-worth interest. Data from analyst Ali Martinez reveals that whale wallets added 280 million XRP over the past 10 days, a pattern typical during volatile periods [3]. Such accumulation could provide a floor for the price if the $3.00 level holds in the coming days. However, the immediate outlook remains bearish, with XRP/USD and XRP/BTC pairs closing negative as Bitcoin dominance increased, drawing funds away from altcoins [4].

Technical analysis highlights the $3.00–$3.10 range as a key battleground. If bulls manage to defend this territory, the price could rebound toward $3.60 and $4.00 resistance levels, potentially reigniting upward momentum. Meanwhile, the asset’s weekly chart suggests sustained pressure near these thresholds, emphasizing the need for a decisive breakout to rekindle optimism.

Ripple’s CEO issued a warning to users about scam accounts offering fraudulent promotions, urging caution against unverified deals [5]. This comes as XRP’s 24-hour trading volume reached $14.2 billion, reflecting heightened market activity. Analysts project a potential path to $15 if the $3 support level holds, though this remains speculative and contingent on broader market conditions [6].

The episode underscores the fragility of altcoin markets, where large players can swiftly influence prices. While short-term uncertainty persists, whale accumulation and technical indicators suggest a possible recovery if key levels are maintained.

Source: [1] [Upbit’s XRP Move Sparks Panic, Is It Behind Ripple’s 15% Dump?](https://coinmarketcap.com/community/articles/6881e21e2bc37507b2e68e86/) [2] [Upbit’s XRP Move Sparks Panic, Is It Behind Ripple’s 15% Dump?](https://coinmarketcap.com/community/articles/6881e21e2bc37507b2e68e86/) [3] [Upbit’s XRP Move Sparks Panic, Is It Behind Ripple’s 15% Dump?](https://coinmarketcap.com/community/articles/6881e21e2bc37507b2e68e86/) [4] [Upbit’s XRP Move Sparks Panic, Is It Behind Ripple’s 15% Dump?](https://coinmarketcap.com/community/articles/6881e21e2bc37507b2e68e86/) [5] [Upbit’s XRP Move Sparks Panic, Is It Behind Ripple’s 15% Dump?](https://coinmarketcap.com/community/articles/6881e21e2bc37507b2e68e86/) [6] [Upbit’s XRP Move Sparks Panic, Is It Behind Ripple’s 15% Dump?](https://coinmarketcap.com/community/articles/6881e21e2bc37507b2e68e86/)