In mid-July, XRP performed exceptionally well! It successfully broke through the consolidation range of $2.2-$2.3 and soared above $3.6, setting a historical high that the community had been waiting for over seven years! This surge excited many fans.

However, the good times didn't last long, as the price quickly faced a correction. Last week, due to large whale sell-offs, XRP plummeted to $2.73 (according to Bitstamp data). Although it was pressured, XRP did not give up; it rebounded slightly in the following days and even briefly spiked to $3.1.

When many long-term bullish fans believed that the $3 resistance had turned into support and that the market was stabilizing, the bears suddenly exerted their strength, pushing the price back down to $2.9, with a single-day drop of up to 6.5%!

Although XRP rebounded afterwards, it still ended the day down 4%, failing to hold the critical $3 level, and the market remained somewhat volatile.