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XRP Price Dips Amid Whale Sell-Off — Can Bulls Hold $2.80 Support?
XRP Price– Ripple’s XRP stunned markets last week by breaking above its 2018 peak, reaching a new high of $3.65. But the excitement was short-lived, as the price has since pulled back to around $3.09, down roughly 14% for the week.
$1.3 Billion in Leverage Wiped Out
According to analyst Dom, the sharp retracement cleared out nearly $1.3 billion in open interest — nearly 30% of the total — marking what he describes as a standard leverage reset after a steep rally.
The correction has brought XRP back to a critical support zone near $3.00, a level that once acted as resistance. Now, it’s attracting buyers again, with volume building at the support line.
Dom also highlights the 1-month VWAP at $2.86 and the 3-month VWAP at $2.57 as potential fallback levels if price pressure continues. The key zone to watch? $2.80 — if it fails, short-term momentum could shift bearish.
Bullish Chart Signals Still Intact
Despite the pullback, daily charts are showing Dragonfly Doji candles on both the XRP/USD and XRP/BTC pairs — a sign often tied to reversals or trend continuation. Analyst CryptoWZRD sees potential upside if momentum returns, eyeing a move to $3.30, $3.65, and possibly $4.60 if resistance is cleared.
Whale Sell-Off Triggers Liquidations
A major sell-off of 75 million XRP on Korea’s Upbit exchange caused additional price pressure, leading to $90 million in long liquidations. With XRP now hovering near key support and volume thinning, the next 48 hours are critical for bulls to reclaim control — or risk falling below $2.80.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
