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Ripple’s XRP Climbs 5%, But On-Chain Data Flags Further Risks Ahead

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TL;DR

  • XRP holds near $3, but whales sold $2.1B, leaving $2.48 as critical support.
  • On-chain data shows $2.80 is temporary support, with heavier accumulation below $2.48.
  • Analysts track $3.20 breakout level as XRP consolidates between $2.77 and $3.32.

XRP Holds Near $3 After Retreat From July Peak

Ripple’s XRP traded close to $3 at press time, gaining 5% in 24 hours. The token has dropped 9% over the past week and remains 18% below its all-time high of $3.65, reached on July 18. During the rally, trading volumes crossed $110 million at peak hours as larger buyers entered the market.

The price momentum trimmed after sellers stepped in above $3.03 and triggered a short pullback on profit-takers. In the past 24 hours, XRP traded between $2.83 and $3.03. The token has entered the consolidation phase over the past week with an extended lifetime range of between $2.77 and $3.32.

On-Chain Metrics Signal Critical Support Levels

Data shared by analyst Ali Martinez shows that XRP’s recent market structure is supported by historical accumulation zones. 1.80 billion XRP, or 2.81% of the circulating supply, was previously acquired at roughly $2.80. This zone acts as a temporary price buffer.

A firmer support level is positioned below $2.48, where 1.41 billion XRP, or 2.2% of the supply, changed hands. With lighter historical buying between these two zones, current prices remain exposed to sharper moves if selling intensifies. 

Martinez also reported that the Market Value to Realized Value (MVRV) ratio recently formed a death cross, a bearish pattern that can increase the likelihood of extended pullbacks as more holders face unrealized losses.

Resistance and Support Levels in Focus

Market analyst CRYPTOWZRD noted that XRP and XRP/BTC ended their daily sessions in positive territory. The subsequent resistance limits lie at around $3.30 and $3.65. A breakout above $3.65 would establish a new high. Key daily support is at $2.80, with intraday support at 2.83.

Short-term trading setups hinge on the $3.20 level. A confirmed break above it could drive the price action toward $3.23. Failure to hold that threshold may result in sideways consolidation near the lower support zones.

In a post on X, analyst CW added that XRP is currently liquidating short positions after clearing highly leveraged longs. CW noted that a move to $3.06 could trigger a wave of short liquidations, which may increase short-term volatility.

Whale Selling Increases Market Pressure

Large XRP holders have shifted strategy since the July peak. Whales sold more than 700 million XRP worth over $2.1 billion within a single day. These disposals add to immediate selling pressure and can influence smaller market participants to exit positions.

XRP’s movements come amid rising altcoin activity while global markets navigate persistent inflation and cautious central bank policies. 

Il post Ripple’s XRP Climbs 5%, But On-Chain Data Flags Further Risks Ahead è apparso per la prima volta su Criptopatate.

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