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XRP Headed to $7? The Expansion Phase Has Begun

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TL;DR

  • XRP dropped to $3.00 before rebounding as record selling volume tested major support levels.
  • Over 320 million XRP bought by large wallets suggests renewed institutional accumulation pressure.
  • XRP charts show breakout retest as analysts eye expansion phase with $7 target in sight.

Price Drops Sharply After Market Liquidations

XRP dropped more than 6% in the last 24 hours, falling to $3.00 before recovering slightly. The fall came during a broad selloff in the crypto market, triggered by over $1 billion in liquidations. This marked the asset’s lowest price in over a week.

The 24-hour trading volume crossed $11.1 billion, with a sharp wave of selling pressure hitting during the early hours. During that time, XRP recorded 436.98 million units traded in a single hour — the highest hourly volume this quarter. Late in the session, buying picked up, helping stabilize the price around $3.12.

Institutional Buying Signals Fresh Accumulation

Crypto analyst Crypto King shared the view that XRP has moved out of its accumulation and manipulation stages. They believe the next phase, expansion, is now underway, with a price target of $7 in this cycle. Their analysis is based on chart structure and increased interest from large players.

Supporting this, on-chain data from Ali Martinez shows large holders bought around 320 million XRP in the past three days. This total purchase is worth about $1 billion. This type of buying often reduces short-term selling pressure and can shape how smaller investors react.

XRP’s price structure shows a shift after a clean breakout in mid-July. Since then, it has gained more than 66% before entering a sideways range. Crypto King’s chart outlines three phases: accumulation, manipulation, and expansion. Current price movement suggests XRP may be starting the third phase.

A separate chart shared by CryptoBull shows XRP trading inside a symmetrical triangle pattern on the 4-hour timeframe. The price has pulled back to retest the former resistance, now acting as support. This is often seen in healthy market trends where buyers step in after consolidation.

Market Context and Technical Support

The recent decline in crypto prices follows a broader drop in risk assets. U.S. equity markets also saw profit-taking, which may have added pressure across digital assets.

Despite the pullback, Ripple’s CTO reaffirmed the XRP Ledger’s role in supporting financial systems. With the price sitting near a key support level, traders are watching for signs of strength as the expansion setup unfolds.

Postul XRP Headed to $7? The Expansion Phase Has Begun a apărut prima dată pe CryptoPotato.

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