Institutional Selling Pressure Emerges While Key Support Levels Hold
XRP has eased to $3.13, down over 2% in the last 24 hours, as heavy profit-taking follows its recent post-settlement rally. The retracement comes after the token surged on the back of the Ripple–SEC legal resolution, which initially drove institutional inflows and strong retail participation.
The 4-hour chart shows XRP retreating from resistance near $3.40–$3.45, an area marked by repeated rejections. This zone, highlighted in red, now serves as a short-term ceiling for price action. The decline has brought the token back toward a minor support band at $3.10–$3.05, which traders will be watching closely for signs of sustained buying interest.
Earlier in the summer, XRP traded within a descending channel, consolidating for weeks before breaking higher in mid-July. That breakout sparked a rapid climb past $3.00 and toward multi-year highs, driven by elevated trading volumes. The green support zone at $2.90–$2.85 remains the most significant accumulation area below current levels, with a deeper support zone around $2.65–$2.70 offering a last line of defense for bulls.
Volume data indicates that while selling pressure has increased, overall market activity remains elevated compared to pre-settlement levels. This suggests that larger market participants are still engaged, even as short-term traders lock in profits.
“Institutional flows are still there, but the market needs to digest recent gains,” noted BITX market strategist. “If buyers step in at current levels, the next upside target remains $3.45, followed by the major resistance around $3.65.”
For now, holding above $3.05 will be critical to keeping bullish sentiment intact. A drop below that level could see XRP revisit the $2.90 area, while a rebound could reignite momentum toward the upper resistance bands.
With profit-taking in play, institutional positioning shifting, and key technical levels being tested, the coming sessions will be pivotal in determining whether XRP resumes its climb or enters a deeper consolidation phase.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.