🔵 $XRP drops 10% in a day after massive sales: is this the end of the rally?
📊 Current price and clear technical structure
XRP fell more than 10.3% in the last session, from approximately $3.51 to a low of $2.96, marking its largest drop since April. After hitting a low near $3.00, it showed early signs of a technical rebound.
⚙️ Key factors
Massive liquidations on Korean exchanges: Upbit executed sales of 75M XRP, generating liquidations of over $89M in long positions in less than 24 hours.
Whales unloading again: over 640M XRP sold since July 9, increasing bearish pressure; long-term resistance consolidated at $3.10–$3.23.
Key support is at $2.80, with a critical zone at $2.65, below which a full retracement to $2 could be possible.
🔧 Technical level of the day
📌 Immediate support: $2.96–$3.00
📌 Critical zone of real support: $2.80 (if pierced, risk of drop towards $2.48‑$2.65)
📌 Resistance: $3.10–$3.12 (recent lows), then $3.23–$3.25
🎯 Key scenario: Requires holding above $3.00 to attempt a rebound; breaking $2.80 activates greater correction.
🌐 Institutional outlook / macro view
The aggressive selling by large holders weakened the bullish narrative. Still, the technical rebound near $3.00 could be indicative of institutional accumulation. However, indicators like the “death cross” and the imbalance in support suggest caution unless a firm support is found.
Do you see it as a buying opportunity near $3.00 or would you prefer to wait for confirmation above $3.10 before entering? Comment your strategy 👇
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