distribution

#Crypto markets began the week with the whip of intense pressure as an abrupt selling was wiped out more than 100 billion dollars in value in 12 hours. The move was indicative of general risk-off behavior caused by forced liquidation and de-risking in both spot and derivatives markets.
$BTC fell below $94,000 towards $92,000 while $ETH dropped 3% towards $3200, which validated pressure across the market. In this setting, the price of $XRP also fell under pressure, and the macro selling shook its short-term set-up and sent price into a crucial technical test area.
XRP Price Structure Tested After Support Break
Following the market crash, XRP price broke below the key $2.00 support after failing to reclaim immediate resistance near $2.30. That rejection put a halt on recovery momentum and made price susceptible as larger selling picked up. This breakdown coincided with market-wide pressure, and not with XRP-specific weakness, which maintains the structural context intact, and not decisively bearish.
Although the loss of $2.00 was realized, the wider formation still appears like a developing cup-and-handle formation. This structure tends to permit a more extended handle reversal prior to proceeding particularly subsequent to #volatility shocks. 
At the time of analysis, XRP market value stands at $1.97, which is slightly below previous support, but also within the tolerance zone of the structure. Recently, CoinGape projected a rebound toward the $3.00 level following Ripple’s $150M #LMAX deal, with the condition that XRP price holds above $2.00.
Though price marginally fell short of that level, the formation has not been invalidated. XRP price could stabilize near the $1.80 support, which aligns with the pattern base and prior liquidity. 
During the morning session, a dragonfly doji formed after sellers pushed price sharply lower. Buyers took in that pressure and pushed to a close towards the open. Such a reaction is an indication of defense in demand, and rebound conditions remain intact technically.
XRP.USDT 1D Chart (Source: TradingView)
Buyer Dominance and Outflows Limit Downside Risk
Spot taker CVD continues to show buyer dominance even as XRP price trades below former support. The buyer driven trades are more active than the seller driven execution meaning that the down side movement is passively driven by the liquidity and not aggressively driven by the sellers. This imbalance is indicative of absorption as opposed to #distribution , which restricts the downside follow-through and momentum.
Spot exchange flows support that view, according to CoinGlass analytics. At the time of press, XRP reported net outflow of about 5.74M which is a continuation of a larger trend of exchange withdrawals. These outflows were experienced when price had fallen below the $2.00, and thus decreased the sell-side availability in the short run. Sellers, in turn, find it difficult to drive price down unless new supply is introduced in exchanges.
When buyer-dominant CVD aligns with persistent spot outflows, downside moves often compress rather than expand. Price is likely to become steady when the demand absorbs the existing liquidity. 
This dynamic matches current XRP price behavior near structural support. Rather than exits based on panic, the market shows controlled testing. This favors consolidation around the lower boundary as opposed to continuation of breakdown.
XRP Ledger Spot Taker CVD Chart (Source: CryptoQuant)
Summary 
XRP price remains under pressure, but the decline reflects structural testing rather than confirmed trend failure. The stabilization above the $1.80 range supported by the buyer absorption and sustained exchange outflows maintain the broader recovery structure.
The downside risk is contained, and the rebound scenarios are still possible as long that support is maintained. Sustained loss of 1.80 would invalidate this perception and affirm distribution. Until then, XRP price bias remains cautiously constructive.