Usman Salis
XRP took a beating yesterday, falling nearly 9% from $3.02 to $2.75 before bouncing back to $2.82. The drop was fueled by heavy institutional selling, with trading volumes more than doubling the usual daily average.
XRP Price Sees Massive Volume Spike During Selloff
The crypto got hammered during a brutal 24-hour stretch ending August 3, sliding from $3.02 down to $2.75. Between 2 PM and 6 PM on August 2, XRP saw 222.24 million tokens change hands - a whopping 183% jump from the typical 78.52 million daily average. This wasn't retail panic selling; the big players were clearly making moves.
XRP found solid ground at $2.75 with that volume spike often meaning sellers are getting exhausted. But every attempt to push back above $2.84 got smacked down. The asset closed at $2.82, holding above crucial support but still struggling.
Macro Headwinds Hit XRP (Ripple) Price Hard
This wasn't just an XRP thing - the whole crypto market took a hit as global trade tensions ramped up. When uncertainty creeps in, institutional money flees risky assets like crypto. Central banks making policy moves and geopolitical drama made things worse.
The 24-hour range shows XRP swung $0.27, marking an 8.91% decline. Some smart money might be quietly accumulating below $2.80, though we need actual buying pressure to confirm this.
What's Next for XRP Price?
All eyes are on whether XRP can hold that $2.75-$2.76 floor. Breaking below could spell trouble. On the flip side, XRP needs to break back above $2.84 to signal the worst might be over.
During peak selling, volume hit 3.7 million tokens per minute but dropped to just 650,000 per minute by session end. Traders are watching for institutional money flows and any trade war headlines that could shake things up again. For now, XRP sits between key levels, waiting for the next catalyst.
Usman Salis
