XRP price faces 'full pump retrace,' if $2.65 support fails

Key takeaways:

• After dropping 19% successful 3 weeks, XRP faces beardown absorption astatine $3.10-$3.00, with cardinal enactment astatine $2.65.

• Whales person offloaded implicit 640 cardinal XRP tokens since July 9.

• $2.65 aligns with the quarterly VWAP and 0.50 Fibonacci retracement: a driblet beneath could undo the Q3 rally.

XRP (XRP) is undergoing a crisp correction aft rallying to a yearly precocious of $3.65 connected July 18. Since then, it’s down astir 19%, struggling to reclaim the $3.10–$3.00 absorption zone.

On Saturday, prices concisely dipped to a cardinal enactment scope betwixt $2.66 and $2.80 earlier bouncing backmost connected Sunday, forming a higher low.

XRP one-day illustration analysis. Source: Cointelegraph/TradingView

Data from CryptoQuant information indicates that the retracement appears to beryllium driven successful portion by ample holders exiting the market.

Related: XRP custody goes unrecorded for Korean institutions via BDACS amid ‘strong interest’

Over the past 3 weeks, XRP whale wallets, addresses holding important amounts of XRP, person been steadily offloading their positions.

Between July 9 and Aug. 5, the 90-day moving mean of whale netflows is presently antagonistic 640 cardinal XRP (valued astatine astir $340 million), suggesting sustained organisation unit that coincides with the caller terms slump.

XRP Whale Flow 30-day moving average. Source: CryptoQuant

Analyzing XRP’s regular chart, salient crypto trader Nebraskangooner says the altcoin could look a “full pump retrace,” a determination wherever prices could revisit the basal of the erstwhile rally astatine $2.

XRP indispensable clasp $2.65 for a accidental astatine caller highs

The $2.65 level is important for XRP’s bullish marketplace structure. The illustration shows that this level antecedently acted arsenic a important absorption passim H1 2025.

After yet breaking supra successful July, it flipped into beardown support, a method displacement successful structure. A sustained clasp supra this level is indispensable to sphere the uptrend narrative.

XRP one-day chart. Source: Cointelegraph/TradingView

Crypto expert Dom says that XRP was capable to clasp $2.80, a cardinal archetypal country of interest, and presently steers wide of $2.65, which aligns with the quarterly VWAP (Volume-Weighted Average Price).

Related: Will XRP repetition its 70% rally? Price nears classical fractal breakout

VWAP represents the mean terms of an plus traded implicit a period, weighted by volume, and is often utilized by traders to measure just value. 

Dom cautions that immoderate determination beneath this portion would severely harm the chart, perchance invalidating short-term bullish continuation setups.

XRP one-day investigation by Dom. Source: X

Additionally, method expert Mind Trader says that XRP has completed a 50% Fibonacci retracement from its $3.65 high. Historically, if the 50% level holds, a renewed propulsion could people $4.15, i.e, a caller all-time high.

However, if XRP breaks beneath $2.65, it risks slipping backmost into its erstwhile scope and perchance retesting $2, fundamentally undoing months of gains and signaling broader weakness.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.