What do you know
XRP has dropped by 8% over the last 24 hours, dropping from a session-high $3.17 to a low of $2.94. The most sharp drop occurred in the midnight trading window on August 1, when XRP fell 2.7% in an hour, with 259.21 million units quadrupleting 24-hour average.
The accumulated signal emerged during the recovery phase despite the downtrend as the XRP rebounded to $2.98. Volume decreases after the initial volatility, suggesting that the agency’s buyers intervened to absorb excess supply near the main support zone.
News background
The whale activity surrounding XRP continues to provide mixed signals. On the one hand, large holders have settled around $28 million worth of XRP daily over a 90-day period, according to on-chain data. This trend highlights a sustained distribution among institutional and early owners.
At the same time, over 310 million XRP tokens (nearly $1 billion) have accumulated during the recent revision phase, resulting in a sharp drop in exchange balances, indicating a sustained capital inflow.
In addition to cross-current, BlackRock’s Director of Digital Assets Maxwell Stein confirmed Ripple’s participation in the Swell 2025 conference, suggesting increased institutional integrity despite recent pricing pressures.
Price Action Overview
•High: $3.17 (10:00 UTC, July 31st)
•Low: $2.94 (00:00 UTC, August 1)
•24-hour change: -8%
• Hourly low points: $3.02 → $2.94 (midnight drop)
•Volume surge: 259.21m units during correction vs. average of 64.89m
•Closing price: $2.98 (recovering limit to session closure)
The close to $2.98 on XRP represents a lower minor recovery in the session, but still shows a broader structural debilitation. Short-term sentiment remains vulnerable in the flow of liquidation and technical breakdown below the $3.00 threshold.
Technical Analysis
The $2.94 support zone was held firmly during multiple daytime testing, with prices becoming aggressive to play $2.98 per session ending. Resistance remains indirect for $3.02-3.05, and refusals are continuously rejected unless spot inflows recover.
Although momentum indicators remain bearish, the recovering volume profile suggests some fatigue in the sale.
What traders see
•Whether $2.94 to $2.95 will be retained as structural support in the short term
• Pausing signs or distribution trends for whale accumulation has been updated
•Posted ahead of BlackRock’s Ripple Swell 2025, impact on future XRP ETF-related stories
•Reactions in the resistance bands between $3.00 and $3.05, which previously marked major distribution levels
