XRP slipped to $ 2.97 in its sharp decline in weeks, pouring 5.4% into a 23-hour stretch as retail selling excess order books.
The move came to the flow of volumes that had been day -to -day averages, but the whale wallets quietly absorbed the sinking -Socooping 440 million tokens worth $ 3.8 billion. The difference between the retail capitulation and institutional accumulation sets a pivotal point around the $ 3.00 mark.
News background
• The XRP dropped from $ 3.14 to $ 2.97 under 24 hours, posting a steep pullback since July.
• Whale consumers added 440 million XRP even though retail businessmen threw holds.
• A symmetrical triangle pattern is formed, with a breakout target near $ 3.90 if the resistance is eliminated.
• The broader crypto markets have seen correlated weaknesses amid increased regional region.
Summary of price action
• XRP lost 5.41% in the 23-hour window ending August 18 at 08pm.
• The heaviest sale comes between 01: 00–03: 00, with a $ 3.08 to $ 2.97 collapse in 172 million quantities.
• The last time saw the recovery attempt at a mutual recovery, lifting the XRP from $ 2.97 to $ 2.98.
• The trade has stopped in the last four minutes of the session, suggesting a closure or disruption of data.
Technical analysis
• The resistance is clustered to $ 3.08- $ 3.14, the zone trapped in recovery attempts.
• Support moves to $ 2.96- $ 2.97, where whales are absorbed supply.
• A symmetrical triangular score to $ 3.90 upside down target if $ 3.26 breaks.
• The Golden Cross appeared last week, but the signal has not triggered follow-through.
• Volatility remains elevated, with a $ 0.18 intraday and 163% spike in volume compared to averages.
What do entrepreneurs watch
• If whales continue to absorb dips near $ 3.00 support.
• Breakout or denying the $ 3.08- $ 3.14 resistance zone.
• Effect of stop trading in the last minutes – market glitch or structural weakness.
• Continuing a broader market sale or stabilizing.
• Confirmation of Triangle Breakout towards $ 3.90 or breakdown below $ 2.96.
