XRP News Today: Whale Activity and Broken Support Trigger Alarming 13% Price Drop
XRP is under intense selling pressure this week, with a staggering 13% drop attributed to whale movements and critical support level breaches. Is this a temporary setback or the start of a deeper correction? Let’s analyze the latest XRP news and market dynamics.
XRP Price Plunge: What’s Driving the Sell-Off?
The XRP price recently peaked at $3.66 before tumbling below the crucial $3 psychological level. Three key factors are contributing to the decline:
- Whale activity: Ripple co-founder Chris Larsen moved $140 million worth of XRP to Binance
- Profit-taking: Over 93% of XRP holders are currently in profit
- Market sentiment: Broader crypto market weakness is amplifying XRP’s drop
XRP Support Levels to Watch as Price Weakens
Technical analysts are closely monitoring these critical XRP price levels:
| Support Level | Significance |
|---|---|
| $2.80 | Previous resistance now acting as support |
| $2.60 | Break below could trigger cascading liquidations |
| $2.30 | Major support from early 2025 rally |
XRP Whale Activity Raises Red Flags
The recent large transfer to Binance has sparked concerns about potential selling pressure. Historical data shows that whale movements often precede significant price movements:
- July 2025: $140 million transfer to Binance
- March 2025: Similar transfer preceded 20% drop
- November 2024: Whale accumulation signaled rally start
Can XRP Recover From This Sell-Off?
While the short-term outlook appears bearish, some analysts see potential for recovery:
- Bullish flag pattern from late 2024 could signal $4 target
- CTO David Schwartz emphasizes XRP’s bridge currency utility
- Year-to-date XRP remains up 57% despite recent drop
Frequently Asked Questions
Q: Why did XRP price drop suddenly?
A: The 13% weekly drop resulted from whale activity, profit-taking, and broader market weakness.
Q: What is the most critical support level for XRP?
A: The $2.60 level is crucial – breaking below could trigger significant liquidations.
Q: Are whales selling their XRP holdings?
A: The $140 million transfer to Binance suggests some whales may be preparing to sell.
Q: Could this be a buying opportunity for XRP?
A: Some analysts view the dip as potential bear trap, but caution is advised until support holds.
