By August 6, 2025, XRP fell below the psychological support of $3, settling at $2.96. The altcoin‘s market capitalization decreased by approximately $5 billion following a 2.5% drop over the last 24 hours. This downturn is attributed to technical indicators signaling sales and significant sell-offs by major wallet holders.
Analysis of Ripple’s Price: Expert Insights
After losing its critical $3 support point, XRP faced intense selling pressure. The initial downward movement accelerated with increased high-volume sell orders, indicating the cryptocurrency‘s short-term vulnerability. With a support level seen around $2.80, this is likely only a temporary resting place for XRP.
Analyst Ali Martinez points out the real bottom could lie within the $2.48 – $2.40 range. Martinez expects buyers to reappear within this zone, suggesting potential opportunities for market re-entry.
Technical Indicators and Whale Activity
The Tom DeMark TD Sequential indicator issued a sell signal for XRP on the three-day chart at $3.60. Such signals often herald broader downturns, adding to bearish pressure. Martinez notes a death cross formation in the MVRV ratio, which signals prolonged price pressure.
Blockchain data revealed whales offloaded 720 million XRP from their wallets in the past 24 hours. This reshuffling by large investors adds to the selling impetus across the market.
Should the Relative Strength Index (RSI) fall below 45, it could accelerate the downward momentum. Similarly, closing below the lower band of the Bollinger Bands would intensify losses, while the MACD line remaining below the signal line suggests no imminent short-term momentum changes.
