XRP Falls 8% Below $3 After Hitting Resistance, High-Volume Selloff Signals Weakness

What to Know

XRP declined 8% implicit the past 24 hours, falling from a league precocious of $3.17 to a debased of $2.94, arsenic aggravated merchantability unit overwhelmed archetypal strength. The sharpest driblet occurred during the midnight trading model connected August 1, erstwhile XRP fell 2.7% successful a azygous hour, accompanied by 259.21 cardinal units successful volume—nearly 4x its 24-hour average.

Despite the downtrend, accumulation signals surfaced during the betterment phase, arsenic XRP rebounded to $2.98. Volume diminished aft the archetypal volatility, suggesting that organization buyers stepped successful to sorb excess proviso adjacent cardinal enactment zones.

News Background

Whale enactment surrounding XRP continues to present mixed signals. On 1 hand, ample holders person liquidated astir $28 cardinal worthy of XRP daily implicit a trailing 90-day period, according to on-chain data. This inclination highlights persistent organisation among organization and aboriginal holders.

At the aforesaid time, implicit 310 cardinal XRP tokens—valued astatine astir $1 billion—have been accumulated during the caller correction phase, arsenic speech balances fell sharply, signaling sustained superior inflow.

Adding to the cross-currents, Maxwell Stein, Director of Digital Assets astatine BlackRock, confirmed information astatine Ripple’s Swell 2025 conference, hinting astatine increasing organization alignment contempt caller terms pressure.

Price Action Summary

• High: $3.17 (10:00 UTC, July 31)
• Low: $2.94 (00:00 UTC, August 1)
• 24h Change: -8%
• Hourly Low Point: $3.02 → $2.94 (Midnight drop)
• Volume Surge: 259.21M units during correction vs. 64.89M average
• Closing Price: $2.98 (marginal betterment into league close)

XRP’s closing terms adjacent $2.98 represents a insignificant betterment disconnected league lows, but inactive signals broader structural weakness. Short-term sentiment remains fragile amid liquidation flows and method breakdowns beneath the $3.00 threshold.

Technical Analysis

The $2.94 enactment portion held steadfast during aggregate intraday tests, reinforced by assertive dip-buying that allowed prices to reclaim $2.98 by league end. Resistance remains overhead astatine $3.02–$3.05, with continued rejection apt unless spot inflows prime up.

Momentum indicators stay skewed bearish, though recovering measurement profiles suggest immoderate exhaustion successful the sell-off.

What Traders Are Watching

• Whether $2.94–$2.95 holds arsenic structural enactment successful the adjacent term
• Signs of renewed whale accumulation oregon a intermission successful organisation trends
• BlackRock’s positioning up of Ripple Swell 2025 and its implications for aboriginal XRP ETF-related narratives
• Reaction astatine the $3.00–$3.05 absorption band, which antecedently marked cardinal organisation levels