XRP’s price has come under intense pressure despite a
series of major wallet transfers and a brief period of geopolitical calm. The
token dropped 3% over the last 24 hours, falling to $2.08 even as whales
moved nearly half a billion dollars worth of XRP. The latest slump has shifted focus to the
$2.08 support zone closely, and the risks of a deeper breakdown are building.
The decline came despite broader market relief
following news of a ceasefire between Iran and Israel, reportedly brokered with
the help of former U.S. President Donald Trump.
While that helped stabilize global sentiment, XRP
remained an outlier in weakness. The token dropped from a session high of $2.15 to $2.08, then bounced slightly to $2.14. This trajectory marked its steepest
intraday fall since mid-June.
XRP Price Analysis
Adding to the selling pressure was a large-scale XRP
transfer by Ripple itself. The company moved $439 million worth of tokens to an
unknown wallet, prompting speculation about possible distribution to exchanges.
Meanwhile, other whale wallets moved another $58
million in XRP to centralized trading platforms, fueling fears
of a broader selloff or internal asset reshuffling, Coindesk reported.
XRP Extends Losses
Technically, XRP failed to hold above key levels.
Resistance solidified around $2.17 after multiple rejections, while the
$2.08–$2.09 support zone has turned into a critical line to watch.
Analysts are also tracking a descending channel
pattern that has yet to be resolved. The most intense selling occurred between 12:00 and 16:00 UTC, when volume surged above 114 million XRP, and prices fell
sharply.
Despite a brief recovery to $2.105, low volume late in
the session pointed to buyer fatigue. Without strong bullish action, XRP risks
falling through the $2.08 floor, possibly targeting the $2.00 or even $1.91
levels.
Legal Setback Adds to Bearish Sentiment
Compounding the technical stress was a court ruling
that rejected a proposed settlement between Ripple and the U.S. Securities and
Exchange Commission. U.S. District Judge Analisa Torres denied a joint motion
to finalize a reduced penalty, reigniting uncertainty around the long-running
legal battle.
Traders reacted swiftly, with selling accelerating as
the news broke. The legal setback overshadowed any optimism around Ripple’s
ongoing regulatory progress and introduced fresh risk for XRP holders.
Volatility Drops
XRP’s 30-day realized volatility has dropped to 44%,
the lowest since November 2024. While this suggests a calmer market, volatility
is known to revert over time. If history is any guide, such low volatility may
soon give way to a strong directional move—up or down.
Despite the listing of XRP futures on the CME and
discussions around a potential XRP ETF, price action has remained contained
between $2.00 and $2.60 since March. Traders are now waiting for a decisive
break, with either a bullish reversal back toward $2.23 or a deeper retreat
below $2.00.
This article was written by Jared Kirui at www.financemagnates.com.
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