- XRP dropped to $3.09 after SEC-related concerns and whale selloffs; 75M XRP sold on Upbit spurred massive liquidation.
- Despite the dip, RSI at 58.56 and a golden cross above $3.37 and $2.60 MAs signal bullish structure remains intact.
- Key support is $2.80–$3.00; holding this zone could push XRP to $4.20, but low active address count may cap upside.
XRP had a sharp downturn on July 24, falling by 10.89% in 24 hours to trade at $3.09 at press time. The broader context shows a more complex picture: while the asset declined over the past day and week, it remains up by 42.45% over the last 30 days.
XRP’s market cap dropped to $183.41 billion, while its 24 hour trading volume surged by 136.46% to $16.6 billion. This high turnover, despite falling prices, points to increased activity driven by key developments around Ripple’s legal situation and large scale trading behavior.
Regulatory Tension and Whale Activity Lead to Selling Pressure
The steep decline began after news surfaced about a July 24 SEC meeting focused on litigation matters. Although no official statement emerged, the market reacted swiftly. Heavy selling activity was recorded on South Korea’s Upbit exchange.
Traders offloaded 75 million XRP, worth $229 million, creating significant price dips. This figure represented 23% of XRP’s total daily volume, compounding downward pressure. Leveraged long positions worth $89 million were liquidated, including $57.4 million tied to Bitcoin-aligned positions.
Meanwhile, Chris Larsen, Ripple’s co-founder, transferred approximately $140 million worth of XRP to exchanges. While such transfers were explained as personal liquidity moves, they led to uncertainty and contributed to the day’s broader decline.
Technicals Show Ongoing Strength Despite Short Term Correction
Despite the selloff, XRP’s structural trend is bullish. The token surged from around $2.30 to a recent peak near $3.65. However, following this parabolic rally, a retracement was anticipated.
Technical indicators support this view. The RSI recently dropped from 80 to 58.56, pointing to cooling momentum. Still, it remains above the neutral 50 level, suggesting consolidation rather than reversal.
The MACD also supports this view, with the bullish crossover intact, though the narrowing gap hints at slowing strength. Support is between $2.80 and $3.00. As long as XRP stays above this zone, the uptrend is intact.
Key resistance levels include $3.50, $3.60, and the psychological mark of $4.00. If XRP fails to hold above $2.80, it could revisit the $2.50 level, which served as the previous accumulation range.
On-Chain Metrics Show Long Term Confidence
XRP’s price is above its 50 day and 200 day moving averages, which are at $3.37 and $2.60, respectively. The 50-day MA recently crossed above the 200-day MA, forming a golden cross.
Historically, this is a bullish continuation signal. Total XRP holders are nearing 6.74 million, indicating continued long term accumulation. However, active address activity, around 58,600 daily, has yet to show the enthusiasm seen during previous rallies.
This divergence between price and network activity may limit upside unless user engagement picks up. Volume further shows elevated participation, with July 24 seeing 170.59 million XRP traded.
Despite the sharp decline, this indicates strong interest during price moves. Yet, without sustained activity and a rebound above $3.50, the rally may stall.
Potential Price Scenarios for August 2025
On the upside, if XRP holds above $2.80–$3.00 and volume returns, targets include $3.60, with extended potential toward $4.00–$4.20. However, a breakdown below $2.80 could lead to further declines toward $2.50–$2.60, especially if volume and participation remain low.
XRP’s August outlook depends on its ability to defend support above $2.80 amid regulatory uncertainty and technical consolidation. On-chain strength and the golden cross suggest bullish continuity, but network participation and price stability will determine the next move.
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