XRP News Today: XRP Slides Amid Institutional Selling and Key Technical Levels Loom

XRP is currently experiencing significant whale-driven distribution, with institutional actors offloading large positions and signaling caution in the market. On-chain data from CryptoQuant shows negative whale flows over the past 30 days, with large investors selling aggressively on the XRP Ledger (XRPL) [1]. This trend aligns with the token’s recent price action, which has seen XRP slip from $2.95 to $2.90 in a 24-hour span amid heavy trading volume of $7.18 billion [1].

The technical outlook for XRP is mixed, with the price currently hovering around $2.95 and showing a 2.14% daily gain on the 4-hour chart. Bollinger Bands indicate moderate volatility, with XRP rebounding from the lower band at $2.82. Analysts have identified key levels of interest: $3.00 as immediate resistance and $2.80 as a critical support zone. A decisive move above $3.00 could open the path to $3.20, while a breakdown below $2.90 may trigger a pullback toward $2.80. The Relative Strength Index (RSI) stands at 54.29, suggesting neutral conditions and potential for a rally if buying pressure builds [1].

The price has been consolidating within a descending symmetrical triangle, with support at $2.86 and resistance at $3.12. This pattern indicates that a breakout—either bullish or bearish—is likely in the near term. The presence of multiple moving averages—20, 50, 100, and 200 EMAs—between $3.00 and $3.05 is further limiting upward momentum and reinforcing the need for a clear directional move. Until XRP breaks above this cluster of averages, further rallies are expected to face selling pressure [1].

Meanwhile, Ripple CEO Brad Garlinghouse has sparked speculation with a recent tweet hinting at a “big Bank of America announcement.” While the exact nature of the development remains unclear, analysts suggest it could signal deeper institutional ties between Ripple and the major U.S. bank. This has drawn attention from both retail and institutional investors, with some viewing it as a potential catalyst for broader adoption and regulatory progress [1]. Garlinghouse’s comments have also shifted part of the narrative, with traders discussing the implications of potential banking sector support for XRP.

Institutional sentiment is further influenced by Ripple’s recent innovations, such as the XRP rewards card launched by Gemini. While this does not directly affect current price dynamics, it reinforces the platform’s long-term utility and adoption potential [2]. Whale activity has also shown some bullish momentum, with analysts speculating that a breakout to $10 could be on the horizon. However, this remains speculative and not currently supported by on-chain data [3].

The broader crypto market remains volatile, with ETF outflows and regulatory uncertainty affecting overall sentiment. Analysts have pointed to the possibility of a “moonshot” breakout for XRP in the fourth quarter, though this depends heavily on macroeconomic conditions and institutional positioning [4]. XRP has shown resilience, gaining 3.28% over the past week as some buyers continue to accumulate at lower levels. Net spot flows into exchanges currently stand at around $12.7 million, indicating a measured and strategic buildup of positions [1].

Overall, XRP is at a critical juncture as it navigates a period of whale-driven distribution, institutional selling, and technical consolidation. Traders are closely watching for a breakout from the $2.85–$3.05 compression zone, with key indicators like RSI and MACD remaining neutral. The next few trading sessions will be crucial in determining whether XRP can extend its summer recovery or face deeper consolidation [1].

Source:

[1] https://coinjournal.net/news/xrp-battles-the-3-barrier-amid-institutional-selling-and-triangle-squeeze/

[2] https://investorshangout.com/ripple-ceo-shares-excitement-over-innovative-xrp-rewards-card-372644-/

[3] https://economictimes.indiatimes.com/topic/xrp-breakout-potential-today

[4] https://cointelegraph.com/tags/xrp