XRP News Today: XRP Price Drops 20% as 20.6M Daily Transactions Test $2.95 Support Amid Volatility, Institutional Demand

XRP’s recent price trajectory has sparked renewed attention across the cryptocurrency market. On July 24, the asset recorded 2.59 million transactions—a three-month high—marking a surge in network activity amid a price correction. Despite a nearly 20% decline from its July 2025 peak of $3.65 to $2.95 by July 25, XRP remains above key moving averages (50 EMA, 100 EMA, 200 EMA), signaling a structurally bullish continuation pattern [1]. The daily transaction volume of 20.6 million, the highest this year, underscores sustained utility-driven demand from institutional and retail participants [2].

The price correction, however, has introduced volatility. Analysts highlight a "double top" pattern at $3.60, historically linked to prolonged downturns, while a potential "cup-and-handle" structure suggests further downward momentum if support at $2.95 fails [4]. Conversely, the RSI’s oversold territory hints at possible short-term rebounds, though long-term stability depends on XRP consolidating above this critical level [2]. Institutional adoption remains a key catalyst, with derivatives-based ETFs like the Ultra XRP ETF amassing $530 million in assets and Polymarket assigning an 80% probability to a spot XRP ETF approval [1].

On-chain data reveals strategic accumulation, with whale transfers and institutional positioning indicating confidence in XRP’s fundamentals. Yet, liquidity constraints are evident in regional markets—South Korean exchange Upbit saw a 15% drop in XRP trading on July 23, reflecting localized pressures [5]. The asset’s ability to maintain its price above $2.95, now acting as a support zone, will be pivotal. A breakdown below this level could trigger a deeper bearish phase, while a rebound might pave the way for a renewed rally.

Regulatory developments further shape the narrative. The GENIUS Act’s framework for stablecoins has bolstered Ripple’s Ripple USD, which now holds $550 million in assets, reinforcing institutional trust. Meanwhile, speculation around spot ETF approvals remains a double-edged sword, with BlackRock’s potential filing for an XRP fund seen as a critical driver of adoption [1].

Market participants are advised to monitor technical indicators, institutional positioning, and macroeconomic signals. While the immediate focus is on XRP’s ability to retest $2.95 as a support zone, the interplay between regulatory clarity, on-chain utility, and ETF speculation will likely dictate its near-term direction. For now, XRP’s performance reflects a blend of speculative momentum and functional demand, positioning it as a key barometer for broader crypto market sentiment.

Source: [1] [Rare pattern reveals why the XRP price is crashing today](https://crypto.news/rare-pattern-reveals-why-the-xrp-price-is-crashing-today/) [2] [Analyst Reveals The Real Reason XRP Price Crashed ...](https://www.mitrade.com/insights/news/live-news/article-3-984519-20250724) [3] [XRP Eyes Drop Towards $3, But Bullish Narrative Is Still In ...](https://www.livebitcoinnews.com/xrp-eyes-drop-towards-3-but-bullish-narrative-is-still-in-play/) [4] [XRP Price Forms Double Top, This Structure Says A Crash ...](https://www.mitrade.com/insights/news/live-news/article-3-984216-20250724) [5] [XRP News Today: XRP Breaks Seven-Month Range ...](https://www.ainvest.com/news/xrp-news-today-xrp-breaks-month-range-surpasses-3-00-whale-transfers-institutional-buys-intensify-volatility-2507/)