XRP Faces Potential Support Test Amid Third-Largest Liquidation and Whale Selling Pressure
Main Idea
XRP price dropped 10% due to whale sell-offs and liquidations, with bulls aiming to defend key support levels between $2.95 and $3.00 amid market volatility.
Key Points
1. XRP faced a 10.33% decline, marking its steepest daily drop since early April, coinciding with $86 million in long positions liquidated on Binance.
2. Whale activity, including a transfer of over 50 million XRP by a wallet linked to Ripple co-founder Chris Larsen, intensified selling pressure.
3. Bulls are focused on defending the $2.95–$3.00 support zone, with a break below potentially leading to further downside risk.
4. Technical indicators show mixed signals, with a decline in futures open interest suggesting reduced bullish leverage.
5. Over 2,700 wallets hold more than one million XRP each, indicating significant whale influence on price dynamics.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! XRP experienced a
Latest News
- Bitcoin Holds Above $110000 Amid Increased Exchange Inflows and Rising Open Interest Suggesting Potential Market Consolidation2025-07-26 09:15:15
- Bitcoin Faces Massive Liquidation Waves with $948M Short and $588M Long Positions at Key Price Thresholds2025-07-26 09:02:15
- Ika (IKA) Token Launches on Gate Launchpad with 200 Million Tokens Available for Subscription2025-07-26 08:49:57
- ETH Unstaking Trends Suggest Growing Interest in Digital Asset Treasury Companies Among Investors2025-07-26 08:37:47
- Bonk (BONK) Gains Attention in Nigeria Amid Market Caution and Altcoin Trends2025-07-26 08:35:45