This week, XRP has fallen below the $ 3.00 critical level, expanding its loss, because the sale of whales and regulatory uncertainty burdened the market. Currently trading at USD 2.8, XRP has reached a 3.68% decrease in the last 24 hours, and the volume of trading increases slightly by 0.82% to USD 6.85 billion.
The last slowdown occurred after the data in the chain revealed that whales relieved 470 million XRP tokens in the last 10 days, reducing their accumulated resources to just 7.63 billion coins.
Large -scale outputs through wallets containing from 10 to 100 million XRP suggest that institutional desks and high -rate salespayers collect profits after the last XRP rally above USD 3.39 at the beginning of this month.
XRP Price Action: 2,85-2.90 USD becomes a key battlefield
Data on price campaign show that the sharpest decrease in XRP occurred between 13:00 and 15:00 UTC 19 August, when it dropped from USD 3.04 to USD 2.93, because the volume increased to 137 million, almost twice as much as the daily average.
Despite the high sales, buyers have repeatedly defended USD 2,85-2.88, preventing further falls.
Currently, XRP It consolidates nearly 2.85–2.90 USD, which is a sign that compact -term sales pressure can be bland. Despite this, the resistance of USD 3.04 has been confirmed, which hinders stubborn recovery without stronger demand.
XRP's price trends to the downside on the daily chart. Source: XRPUSD on Tradingview
Can Bulls stand the line for $ 2.8?
For traders, the level of 2.8 USD is currently the most critical support for watching. The division could open the door to a deeper inheritance, and recovery $ 3.00 would signal the renovated strength of the buyer. Analysts note that recovery above USD 3.19 is necessary for the momentum to come back in favor of bulls.
By adding to pressure, the security audit ranked the book XRP the lowest among the 15 main blockchains, causing concerns about long -term immunity. Meanwhile, in the USA SEC has delayed decisions regarding several ETF XRP applications, including Application Coinshares NasdaqUntil October, deepening regulatory uncertainty.
As long as SEC rules ETF applications in October, XRP may remain unstable, because whales are still advising against, and institutional investors adapt their wallets. Whether this inheritance is a hearty correction or the beginning of a wider crisis will depend on how well XRP can defend its current support levels in the coming days.
CHATGPT cover image, XRPUSD map from TradingView
