XRP (XRP) Price Pulls Back From $3.00 High – Is This the Calm Before the Next Storm?

XRP bulls hit the brakes after a blistering rally past $3.00—now traders are scrambling to decode the next move.

Correction or carnage?

The token's 15% retracement from its peak has speculators divided. Some see a healthy cooldown; others smell blood in the water. Meanwhile, institutional players keep stacking—because nothing says 'conviction' like leveraged bets with other people's money.

Key levels to watch: $2.80 holds as support, we're likely gearing up for another leg up. Break below? Cue the panic sells and recycled 'Ripple is doomed' hot takes.

One thing's certain: in crypto, even corrections come with fireworks.

TLDR

• XRP trades at $2.92 with a 3.16% daily gain after correcting from recent highs above $3.00
• Whale wallets holding over 1 million XRP reached a record 2,743, controlling 47.32 billion tokens
• RSI indicator climbed to 83.07, showing strong momentum above the 70 threshold
• Token maintains position within ascending regression channel with support at $2.90 level
• Technical analysis points to potential test of $3.00 psychological barrier in near term

XRP opened Asian trading sessions at $2.8522 and has maintained upward momentum throughout the day. The cryptocurrency currently trades at $2.92, marking a 3.16% increase over the past 24 hours.

The token recently experienced a strong rally that pushed prices above the $3.00 level. A high was formed at $3.0324 before the price began correcting gains. The correction moved below the 50% Fibonacci retracement level of the upward MOVE from the $2.660 swing low to the $3.0324 high.

Current trading shows XRP holding above the $2.80 level and the 100-hourly Simple Moving Average. A key bullish trend line has formed with support at $2.820 on the hourly chart. This technical foundation provides structure for potential future price movements.

The cryptocurrency has been trading within a defined ascending regression channel since rebounding from $0.86 lows. This channel pattern indicates consistent upward pressure over the longer timeframe. The token’s position within this channel suggests continued bullish sentiment among traders.

Record Whale Activity Drives Accumulation

Large wallet activity has reached unprecedented levels according to recent data from Santiment. The number of wallets holding at least 1 million XRP has climbed to 2,743, surpassing all previous records. This figure represents the highest whale wallet count ever recorded for the cryptocurrency.

🐳 XRP's market value has hit a 7-week high, crossing above $2.39 for the first time since May 23rd. What to watch for are the rising number & collective balances of whales holding at least 1M $XRP.

There are currently 2,742 wallets holding at least 1M XRP, one off from… pic.twitter.com/UPPlSWq7TD

— Santiment (@santimentfeed) July 9, 2025

These large holders now control 47.32 billion XRP tokens collectively. The accumulation pattern started in early July and has continued through recent trading sessions. Both wallet count and total holdings have moved upward together, indicating coordinated buying activity among institutional investors.

The synchronized rise in both metrics occurred as XRP’s price recovered from recent lows. Large investors have been adding to their positions during the price recovery phase. This accumulation pattern often precedes sustained price movements in cryptocurrency markets.

Technical Indicators Support Continued Momentum

The Relative Strength Index has risen sharply to 83.07 from a previous reading of 63.78. This movement places the indicator well above the 70 threshold, historically reflecting strong momentum conditions. The RSI reading suggests continued buying pressure in short timeframes.

MACD analysis shows the main line at 0.15614 while the signal line stands at 0.08175. This separation has created a histogram value of 0.07439, indicating divergence between the two lines. The widening gap reflects increasing momentum behind XRP’s current price action.

The MACD structure has consistently widened during this upward move. Both technical indicators align with continued upward pressure based on recent price and volume behavior. Trading volume has supported the 3% daily gain throughout multiple sessions.

Resistance levels appear NEAR the $2.920 and $2.950 zones on the upside. The first major resistance sits near $2.950, with a clear move above potentially sending prices toward $3.020. Further gains could target the $3.080 resistance level or even $3.120 in the near term.

Support levels remain at $2.820 and the trend line zone on the downside. The next major support sits near $2.80 and the 76.4% Fibonacci retracement level. A break below $2.80 could send prices toward $2.750 support, with the next major support zone at $2.650.

Current trading conditions show XRP maintaining position within the ascending regression channel with support forming around the $2.90 level. The next test could appear near the $3.00 psychological barrier as technical indicators continue supporting upward pressure.