XRP slid to $2.97 in its sharpest decline in weeks, shedding 5.4% over a 23-hour stretch as retail selling overwhelmed order books.
The move came on surging volumes that eclipsed daily averages, but whale wallets quietly absorbed the dip — scooping 440 million tokens worth $3.8 billion. The divergence between retail capitulation and institutional accumulation sets up a pivotal point around the $3.00 mark.
News Background
• XRP fell from $3.14 to $2.97 in under 24 hours, posting its steepest pullback since July.
• Whale buyers added 440 million XRP even as retail traders dumped holdings.
• A symmetrical triangle pattern has formed, with a breakout target near $3.90 if resistance clears.
• Broader crypto markets saw correlated weakness amid rising risk-off sentiment.
Price Action Summary
• XRP lost 5.41% in the 23-hour window ending August 18 at 08:00.
• The heaviest selling came between 01:00–03:00, with $3.08 to $2.97 collapse on 172 million volume.
• Final hour saw muted recovery attempt, lifting XRP from $2.97 to $2.98.
• Trading halted in the last four minutes of the session, suggesting closure or data disruption.
Technical Analysis
• Resistance is clustered at $3.08–$3.14, the zone that capped recovery attempts.
• Support has shifted to $2.96–$2.97, where whales absorbed supply.
• A symmetrical triangle points to $3.90 upside target if $3.26 breaks.
• Golden cross emerged last week, but the signal has yet to trigger follow-through.
• Volatility remains elevated, with $0.18 intraday range and 163% spike in volume versus averages.
What Traders Are Watching
• Whether whales continue absorbing dips near $3.00 support.
• Breakout or rejection at $3.08–$3.14 resistance zone.
• Impact of halted trading in final minutes — market glitch or structural weakness.
• Continuation of broader market selloff or stabilization.
• Confirmation of the triangle breakout toward $3.90 or breakdown below $2.96.
Source link
Shaurya Malwa
https://www.coindesk.com/markets/2025/08/18/golden-cross-signal-fades-as-xrp-slumps-below-usd3
2025-08-18 13:34:00
