Quick Summary
XRP price has decreased by 1.86% in the past 24 hours, reflecting profit-taking by major investors, technical resistance, and general market uncertainty.
Large sell-offs from 'whales' due to 93% of XRP supply being in profit (CryptoTimes).
Technical rejection at the resistance area between $3.30 and $3.40 after the mid-July rise.
General caution in the market as liquidity in cryptocurrencies declines by 6.67% and the altcoin season index drops to 33 out of 100.
Detailed Analysis
1. Profit-taking Pressure
93% of XRP holders are in profit at current prices (~$3.06), the highest level since the price surge began in 2025 (CryptoTimes).
175 million dollars worth of XRP was transferred to exchanges by Ripple co-founder Chris Larsen on July 24, indicating potential selling pressure.
Short-term investors who bought between $2.30 and $2.80 (in June and July) are realizing profits ranging from 20-30%, encouraging them to secure their gains.
2. Technical Challenges
Failed to break resistance: XRP tested $3.64 on July 18 but closed below $3.40, negating the bullish momentum created by a 6-year symmetrical triangle breakout.
Key Indicators:
Relative Strength Index (RSI) at 57.56 (neutral but declining from overbought levels exceeding 70 in mid-July)
MACD indicator is negative (-0.049) since July 25
Immediate support at $3.05 (Fibonacci ratio of 76.4% from the movement between $3.00 and $3.33)
Summary
The decline in XRP price reflects profit-taking by early buyers, technical exhaustion after a monthly increase of 39%, and a decline in altcoin momentum as Bitcoin's dominance rises to 60.93%. Nevertheless, the long-term bullish trend remains intact (up 389% year-over-year), and the $3.00–$3.10 range will be critical to maintain to avoid a deeper correction.
Will institutional adoption of XRP (such as Ripple's partnerships with the stablecoin RLUSD) be able to offset near-term selling pressure?