XRP Falls 8% Below $3 After Hitting Resistance, High-Volume Selloff Signals Weakness
What to Know XRP declined 8% over the past 24 hours, falling from a session high of $3.17 to a low of $2.94, as intense sell pressure overwhelmed initial strength. The sharpest drop occurred during the midnight trading window on August 1, when XRP fell 2.7% in a single hour, accompanied by 259.21 million units in volume—nearly 4x its 24-hour average. Despite the downtrend, accumulation signals surfaced during the recovery phase, as XRP rebounded to $2.98. Volume diminished after the initial volatility, suggesting that institutional buyers stepped in to absorb excess supply near key support zones. News Background Whale activity surrounding XRP continues to deliver mixed signals. On one hand, large holders have liquidated roughly $28 million worth of XRP daily over a trailing 90-day period, according to on-chain data. This trend highlights persistent distribution among institutional and early holders. At the same time, over 310 million XRP tokens—valued at nearly $1 billion—have be...