TL;DR
- Upbit offloads 75M XRP, dragging the price down to $3.05 in a sharp correction.
- Whale wallets scoop up 280M XRP in the past few weeks, pointing to increasing demand from large players.
- XRP sees $14.2B in trading volume as charts point to $15 if $3 support stays firm.
Large Sell Order Triggers Sharp Drop
Ripple’s XRP price dropped more than 15% over the past 24 hours, sliding to $3.05 after a large sell-off on the Korean exchange Upbit. The move involved over 75 million XRP sold directly on the market, according to crypto analyst Dom. The lack of substantial buying depth on the order books resulted in a rapid decline in the price.
Korean market Upbit choose violence today on $XRP
Over 75 million $XRP sold at market over the last 24 hours
The pump AND dump was brought to you by Upbit…
The orderbooks have been pretty empty, thus the quick move down today
We have reached some bids around $3, which I… https://t.co/xxCVcN899s
— Dom (@traderview2) July 23, 2025
Meanwhile, this sharp decrease followed a brief period in which the price surpassed $3.65 last week. XRP had recently achieved all-time highs, but this upward momentum was disrupted due to the aggressive selling activity.
At the time of writing, XRP is trading around the critical $3.00 support level. Analysts believe that maintaining this position could stabilize XRP’s price structure.
Whale Activity Shows Accumulation Despite Price Dip
Despite the short-term price challenges, large holders have been actively accumulating XRP. Data from analyst Ali Martinez indicates that whales have acquired over 280 million XRP within the past 10 days.
Whales have bought over 280 million $XRP in just the past 10 days! pic.twitter.com/JDTwaEYHMe
— Ali (@ali_charts) July 23, 2025
This type of accumulation often occurs during fluctuating market phases. Although XRP’s price has dipped, the ongoing purchases by whales might provide essential support if the $3.00 level holds in the coming days.
Short-Term Pullback After Resistance Rejection
According to CryptoWZRD’s daily update, both XRP/USD and XRP/BTC closed in the negative territory. This decline appears linked to an increase in Bitcoin dominance, which tends to attract funds away from alternative cryptocurrencies. After encountering resistance near $3.65, XRP has retraced.
The price charts reveal a typical retracement, with the $3.00 to $3.10 range now acting as a significant support area. Should bullish activity resurface here, we may see a recovery in price.
Weekly analysis suggests resistance remains strong around $3.60 and $4.00. A decisive move beyond these levels could restore upward momentum.
Ripple CEO Warns Users About Scam Accounts
Ripple’s CEO recently issued a warning to users regarding scam accounts that falsely claim to offer promotions or giveaways. The advice emphasizes the importance of not engaging with unverified profiles or dubious deals.
XRP is currently gaining attention as trading volumes hit $14.2 billion, and projections indicate a potential rise towards $15, contingent on support at the $3 mark remaining intact.
The post Upbit’s XRP Move Sparks Panic, Is It Behind Ripple’s 15% Dump? first appeared on CryptoPotato.
