XRP Plunges 5% Amid Heavy Sell-Off—Is This a Buying Opportunity?
XRP takes a hit as whales dump holdings—market trembles under the weight of high-volume selling.
Blood in the water? The fifth-largest crypto by market cap buckles under sustained pressure, with trading volumes spiking 300% above monthly averages. Paper hands flee while OGs remember 2018''s fire sale.
Behind the sell-off: Rumors swirl about delayed institutional adoption and yet another SEC delay (shocking, right?). Meanwhile, Bitcoin maximalists smugly adjust their tinfoil hats.
Silver lining? The Ripple army''s still buying the dip—because nothing says ''sound investment strategy'' like blind faith in a coin that''s 80% off its ATH.
News Background
- XRP has come under intensified selling pressure amid rising macroeconomic uncertainty.
- Ongoing U.S.-China trade friction, mixed central bank policy signals, and the fallout from recent ETF rejections have soured sentiment across risk assets.
- At the same time, traders are closely watching Ripple’s upcoming RLUSD stablecoin deployment and regional regulatory milestones in Dubai and Singapore — two markets where Ripple’s infrastructure continues to expand.
- Still, none of these developments have provided near-term lift, with XRP now down nearly 9% for the week.
- Market observers point to a descending channel forming on the hourly chart — a bearish continuation signal — as volume surged during key resistance tests.
- Unless buyers can reclaim the $2.20 level, analysts warn that price action could break further toward the $2.10 zone.
Price Action
The sharpest pressure came during the 15:00–16:00 hour, when volume more than doubled the daily average, cementing resistance around $2.19. A brief recovery attempt later in the session pushed XRP to $2.179, but sellers quickly regained control.
A final high-volume drop at 02:01 pushed the price down to $2.162, confirming a lower low and continuing the downtrend. Support has formed around $2.147, with XRP trading in a narrow range NEAR $2.164 as volatility begins to subside.
Technical Analysis Recap
- XRP declined from $2.254 to $2.164, a 4.5% drop.
- High-volume resistance zone formed around $2.19 during peak activity at 15:00–16:00.
- Support identified at $2.147 where buyers stepped in repeatedly.
- Short-lived recovery reached $2.179 before being rejected.
- Volume spike at 02:01 coincided with 0.8% price drop to $2.162.
- Immediate resistance now at $2.175; descending channel pattern signals continued bearish pressure.
- Selling volume has tapered off, suggesting possible stabilization in the near term.
Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
