Key Takeaways:
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After falling 19% to three weeks, the XRP faced a strong resistance to $ 3.10- $ 3.00, with a major support of $ 2.65.
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The whales have been offloaded by more than 640 million XRP tokens since July 9.
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The $ 2.65 is aligned with the quarterly VWAP and 0.50 fibonacci retracement: a drop below can remove the Q3 rally.
XRP (XRP) is undergoing a sharp correction after ralling to an annual high $ 3.65 on July 18. Since then, it has dropped nearly 19%, difficult to obtain the $ 3.10- $ 3.00 resistance to the zone.
On Saturday, prices were briefly sinking into a major support range between $ 2.66 and $ 2.80 before going back on Sunday, forming a lower low.
Data from cryptoquant data implies That the retirement appears to be driven to the part of the large holders that come out of the market.
Related: The Caution of XRP lives for Korean institutions by BDACs amid ‘strong interest’
Over the past three weeks, the XRP whale wallets, the addresses holding significant XRP value, have continued to upload their positions.
Between July 9 and August 5, the 90-day transfer of the whale Netflows average is currently a negative 640 million XRP (costs approximately $ 340 million), suggesting a prolonged distribution pressure that coincides with the recent price collapse.
Examines XRP’s day -to -day chart, well -known crypto businessman Nebraskangooner Says Altcoin could face a “full pump retrace,” a move where prices can revisit the base of the previous rally to $ 2.
XRP must hold $ 2.65 for a time with new highs
The level of $ 2.65 is essential for the structure of the Bullish market of the XRP. The chart shows that this level has previously acted as a significant resistance throughout the H1 2025.
After the end of breaking up in July, it slumped into strong support, a technical shift in the structure. A long handle above this level is important to maintain the narrative of the uptrend.
Crypto analyst Dom said the XRP was able to maintain $ 2.80, a major preliminary area of interest, and currently preserves $ 2.65, aligned with the quarterly VWAP (volume of average price).
Related: Will XRP repeat its 70% rally? Price close to the classic fractal breakout
The VWAP represents the average price of an asset exchanged at a time, weighted by volume, and often used by traders to assess fair value.
Dom Be careful That any transfer under this zone will seriously damage the chart, which potentially improper the short-term setups of bullish continuity.
In addition, the technical Mind Traders Says That XRP completed a 50% fibonacci retracement from its $ 3.65 height. Historically, if the 50% level holds, a modified push can target $ 4.15, that is, a new all-time high.
However, if the XRP destroys the bottom of the $ 2.65, risk returning its previous range and potential re -rehesting $ 2, it is important to recover months of acquisitions and signing greater weakness.
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
