Cryptocurrency XRP plummeted by 8% per day

The digital token XRP XRP $2.84 XRP -6.76% Market capitalization $168.33 billion VOL. 24 hours $0.45 billion has suffered an 8% drop over the past day, with the virtual coin falling from a high of $ 3.17 to a low of $ 2.94. The sharpest drop of 2.7% occurred during the night trading period on August 1. A significant transaction volume of 259.21 million tokens, which is four times the average daily activity, accompanied this decline.

After the initial wave of selling, the market showed signs of accumulation: XRP rose to $ 2.98, while trading volumes declined, indicating that institutional buyers were intervening near key support zones. Over the past 90 days, large players have been selling $ 28 million worth of XRP daily, but during the recent correction, more than 310 million tokens worth almost $ 1 billion were accumulated, and the balances on the exchanges have sharply decreased.

XRP’s current price of around $ 2.98 signifies a partial recovery from the low, but the overall market structure remains weak as the token is trading below $ 3.00. Technical analysis indicates that support around $ 2.94 has withstood several attacks, and aggressive buying of dips has allowed the price to recover some of its losses. However, the $ 3.02-$ 3.05 zone remains the nearest major resistance.

Momentum indicators remain bearish, but the recovery in trading volumes indicates that the current wave of sales may be exhausted. Traders are focusing on price behavior near $ 2.94-$ 2.95 support, further whale activity, BlackRock’s participation in Ripple Swell 2025, and the reaction to resistance around $ 3.00-$ 3.05, which was previously an active selling zone.