💥 $XRP plummets 6% after massive sales and ETF delay — Is an imminent rebound coming?
🔍 Current price and technical structure
Despite the failed attempt to surpass the new ATH of $3.65, XRP is at $2.79, gradually recovering after dropping to $2.75 due to a sharp decline in open interest (OI) and technical liquidations.
📌 Key factors for the drop
SEC delays the launch of Bitwise's ETF due to regulatory doubts about the allocation of altcoins like XRP.
Chris Larsen (co-founder of Ripple) moved 50M XRP (~$175M) to exchanges, raising alarms about imminent dumping.
Over $89M in long positions were liquidated in the last 24 hours, intensifying general nervousness.
🔧 Technical level of the day
Key support: $2.75–$2.80 (intraday low)
Immediate resistance: $2.85–$2.90
Decisive zone: if XRP manages to close above $2.85 on 4-hour candles, it would pave the way for a recovery towards $3.10–$3.15; a close below $2.75 would break support and target $2.60.
🌐 Institutional perspective / macro view
Although the regulatory landscape continues to generate noise, institutional accumulation persists in funds like Bitwise and Grayscale. Ripple has shown structural resilience in previous rebounds, and some analysts project a return towards $3.50 in the coming weeks, if support holds and no new negative events occur.
Do you take this pullback to add XRP below $2.80 or do you prefer to wait for technical confirmation above $2.90? 👇
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