- XRP dropped 10 percent from 3.65 dollars, with 86 million dollars in Binance liquidations.
- Whales, including one tied to Ripple’s Chris Larsen, moved 50 million XRP, suggesting selling.
- XRP must hold above 3 dollars and break 3.25 dollars to maintain its bullish trend.
XRP Drops After 3.65 Dollar Peak
XRP fell 10 percent from its high of 3.65 dollars, hitting its worst daily drop since April. CoinGlass says this triggered 86 million dollars in liquidations on Binance, the third-biggest XRP wipeout this year.
Crypto analyst Darkfost spotted a wallet tied to Ripple’s Chris Larsen moving 50 million XRP, with 140 million dollars sent to exchanges, hinting whales are selling.
XRP futures open interest also dropped 16.8 percent to 9.10 billion dollars as traders bailed or got wiped out.Despite this, XRP’s long-term trend stays strong. It hit a high close above 3.45 dollars last week, and 2743 wallets now hold over one million XRP, controlling 4.4 percent of the supply. But CryptoQuant shows whales might be unloading, with the 90-day flow turning negative, which could mean a short-term top.
Can XRP Bulls Save the Day?
XRP is now near a key 2.95 dollar support level, tested during Thursday’s dip. If it climbs past 3.25 dollars, it could signal a bullish comeback, locking in 2.95 dollars as a base.
If selling continues, XRP might drop to 2.66 or 2.86 dollars, with strong support at 2.64 dollars. To keep the rally alive, XRP must stay above 3 dollars and break 3.25 dollars.
Falling below 3 dollars and 2.64 dollars could turn things bearish. Traders are watching if bulls can hold these levels and keep XRP’s momentum going.
Also Read: Crypto news highlights from today’s events.
