XRP News Today: Whale Activity Sparks 11% Drop After 40% Surge – Key Support Levels to Watch
XRP has captured headlines with its volatile price action, retracing 11% weekly after a staggering 40% surge earlier this month. Whale activity and key support tests are now dominating the XRP news cycle. What does this mean for investors?
XRP Price Correction: A Healthy Pullback or Cause for Concern?
XRP’s recent price action shows:
- 11% weekly decline from $3.65 high
- 2% drop in last 24 hours
- 93% of supply remains profitable
Market analyst Degram views this as consolidation rather than breakdown, with critical support between $2.97-$3.14.
Whale Activity Heats Up as XRP Tests Support
On-chain metrics reveal:
| Metric | Observation |
|---|---|
| Whale transactions | Elevated activity |
| Network health | Overheated signals |
| Market sentiment | Cautious but not panicked |
The $140 million transfer from Ripple co-founder Chris Larsen contributed to recent volatility.
Ripple CTO Champions XRP Ledger’s Strategic Value
David Schwartz highlights XRPL’s unique advantages:
- Neutral bridge currency for stablecoins
- Chain-agnostic interoperability
- Foundation for tokenized financial systems
Schwartz emphasized XRP’s position as less likely to be bypassed compared to assets like ETH.
Stablecoin Expansion: Visa’s Move and XRP’s Opportunity
The financial landscape is evolving:
- Visa adds USDG, PYUSD, and EURC support
- $200M+ in stablecoin transactions processed
- Multi-chain infrastructure gaining traction
This development underscores the need for XRP to demonstrate real-world utility beyond speculation.
XRP Outlook: Short-Term Caution, Long-Term Potential
Key takeaways for investors:
- Watch $2.97-$3.14 support zone
- Monitor whale activity for signals
- Focus on XRPL development progress
While short-term volatility continues, XRP’s long-term value hinges on institutional adoption and ledger development.
Frequently Asked Questions
Q: Is XRP’s price drop a sign of trouble?
A: Analysts view this as normal consolidation after a 40% surge, provided support levels hold.
Q: What makes XRP Ledger different from other blockchains?
A: XRPL offers chain-agnostic interoperability, making it ideal for cross-border settlements and stablecoin bridges.
Q: How significant is the whale activity?
A: Elevated whale transactions suggest large investors are active, but don’t necessarily indicate bearish sentiment.
Q: What’s Ripple’s position on XRP versus stablecoins?
A: The CTO maintains XRP remains core to Ripple’s strategy despite growing stablecoin interest.
