XRP Plunges Below $3 as Volume Surges and Whales Sell Off
XRP price plunged by around 8% to near $2.90 amid a broader crypto downturn. Trading volume jumped 28% to $8.2 billion as panic selling hit XRP and other major coins. On-chain data shows whales offloaded roughly $28 million in XRP daily over the past 90 days, contributing to $758 million in total liquidations, including $41 million in XRP positions. Technical analysis indicates bearish momentum: RSI stands at 48 and MACD has triggered a bearish crossover. Key support lies at $2.80–$2.73, with immediate resistance at $3.00 and $3.23. A break below $2.73 could target the $2.00 zone, while reclaiming $3.00 may open upside toward $3.55–$4.00. Declining exchange balances and rising sell pressure signal continued downside risk for traders.
Bearish
The combined reports highlight intensified bearish pressure on XRP. The nearly 8% drop to $2.90, surging trading volume, and significant whale offloads point to heavy near-term sell-side momentum. Technical indicators—RSI at 48 and a MACD bearish crossover—support a downside bias, with critical support at $2.73 and $2.80. Breaching these levels could drive XRP toward $2.00, fueled by continued liquidations and falling exchange balances. Although a rebound above $3.00 might open a medium-term rally toward $3.55–$4.00, traders should remain cautious until key resistance is reclaimed. Overall, these factors signal a bearish outlook for XRP in both the short and medium term.