🧨 $XRP cae 10% from massive sale of 75M tokens: liquidations of $89M
📊 Current price and technical structure
Current price: $3.12
Intraday range: $3.02–$3.15
The worst daily drop since April, after a rally that reached $3.60, leading the price to test support at $3.00. XRP rebounds timidly after closing at $3.12.
⚙️ Key factors
In a single transaction on Upbit, 75M XRP were sold, causing liquidations of $89.68M in leveraged positions.
A wallet linked to Chris Larsen (co-founder of Ripple) moved 50M XRP ($175M) to exchanges, of which $140M went to centralized platforms—indicating possible strategic sale.
Technical and sentiment pressure increased sharply: 142% increase in open interest, indicative of traders trapped in a rapid decline.
🔧 Technical level of the day
Support: $3.00–$3.05
Resistance: $3.20–$3.25
🎯 Critical zone: closing above $3.12 could relieve pressure; otherwise, the risk extends to $2.95–$2.90 if support fails.
🌐 Institutional outlook / macro view
Although the correction is strong, many analysts interpret the massive sale as a structural opportunity: the upcoming SEC vote on the withdrawal of the appeal against Ripple (according to the deadline of August 15) and possible ETFs still on the horizon could change the landscape. If confirmed, XRP could rebound towards **$3.40–$3.60+**.
Do you think this is a buying opportunity near $3 or would you prefer to wait for confirmation of a rebound above $3.20–$3.25? Comment on your strategy 👇
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