XRP Crashes Through $2.3 Support as Whales Flee – Is This the Start of a Deeper Correction?

Ripple’s XRP just sliced through its $2.3 safety net like a hot knife through butter—and the charts are flashing red. Capital outflows suggest big players are dumping bags, leaving retail holders clutching their pearls (and their portfolios).

When ’support’ becomes ’resistance’... The altcoin’s 2025 bull run hits a brutal speedbump as liquidity vanishes faster than a crypto VC’s morals during a bear market. Will this turn into a full-blown correction, or just another shakeout before the next leg up?

XRP selling pressure beginning to intensify

Source: XRP/USDT on TradingView

In the second week of April, it appeared that XRP had initiated a recovery after a strong price drop. This came after the reclamation of the descending trendline (white). However, the price action in recent weeks showed that a range formation was the more likely answer, and not a bullish recovery.

The mid-range level of the range plotted (purple) was at $2.27. This level has been respected since March, heavily reinforcing the idea of a range formation. Additionally, XRP faced rejection in mid-May at its March highs.

This was the range high at $2.6. At press time, the price was below the mid-range level once again, having tested the early May low at $2.08. The CMF was at -0.07, showing heavy capital flows out of the market. The DMI also underlined that a bearish trend was building up, and the OBV was sliding lower.

Source: Coinglass

The technical findings highlighted noticeable selling pressure behind the recent losses. The 1-month liquidation heatmap revealed that sizeable magnetic zones have been swept up in recent days. One cluster of liquidity was left, at the $2.05 region.

Hence, it seemed likely that this zone WOULD be revisited, especially if the selling pressure does not ease soon. Traders can brace for a move towards $2-$2.05.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion