Sudden Collapse.. XRP Drops Below $3 After Half a Billion Tokens Dumped by Whales - The XRP token experienced a sharp decline on August 20, breaking its psychological barrier of $3 to trade at $2.88, with losses of about 4% over 24 hours, 10% over the week, and more than 17% over the month, distancing itself by nearly 20% from its all-time high of $3.65 recorded last July.

This drop came after whales sold nearly 470 million tokens over the past ten days, as noted by analyst Ali Martinez, exacerbating selling pressures and raising concerns about the currency entering a deeper correction wave.

Although Glassnode data reveals that over 90% of the circulating supply remains in profit since mid-July, analysts warn that these high profit levels could drive investors into a wider profit-taking wave if the market experiences any new downward shock.

On the technical side, expectations remain cautious as the currency continues to trade below its short and medium-term averages, while support levels near $2.70 form the most critical line of defense, whereas a return of the price above the range of $3.00 - $3.10 could regain momentum for an attempt to rise towards $3.30.$XRP

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