Usman Salis
XRP (Ripple) just took a nasty hit, crashing below the critical $3 level for the first time in weeks. The token's sitting at $2.88 right now - that's a 4% drop in just 24 hours and things aren't looking pretty. We're talking about a 10% weekly decline and a brutal 17% monthly loss that's got traders sweating.
Remember when XRP hit that sweet $3.65 all-time high back in July? Well, we're now sitting almost 20% below that peak, and it's starting to feel like those glory days might be behind us for now.
Why XRP Whales Are Dumping Big Time
Here's where it gets really scary if you're holding XRP. Analyst Ali Martinez dropped some serious intel on X, revealing that crypto whales have dumped around 470 million XRP tokens in just the past 10 days. When whales start moving this kind of volume, it usually spells trouble.
But here's the weird part: according to Glassnode data, over 90% of XRP holders are still sitting in profit territory since mid-July, with profit margins above 90%. Sounds great, right? Wrong. When almost everyone's making bank, it creates a ticking time bomb - all it takes is one bad day and suddenly everyone wants to cash out.
XRP (Ripple) Technical Analysis: The Charts Don't Lie
The technical picture isn't pretty either. The MACD is flashing sell signals while the RSI sits at 42 - not oversold yet, which means there's still room to fall. XRP's been trading below its 10-day, 20-day, and 50-day moving averages like it's allergic to them.
The only silver lining? The 100-day and 200-day moving averages are still giving off "buy" vibes, suggesting the bigger trend could stay intact if XRP holds key support levels.
Where XRP Goes From Here
If bears keep control, we're looking at a retest of $2.86 - the bottom of the recent range. Break that, and $2.70 is next. For bulls to turn this around, they need to reclaim $3.00-$3.10, which just flipped from support to resistance. Get above that, and we might see a push toward $3.30.
XRP's at a crossroads, and the next few days will determine if this is just a healthy correction or something more serious.
Usman Salis
