XRP Plummets 8% Overnight: Whales Panic, Analysts Chuckle 😅💸

TL;DR

XRP plummeted 8%, dragging its price to $2.91 as traders scrambled like cats on a hot tin roof.
Whales dumped $28 million daily, after hoarding 310 million XRP before the rally. Exchange balances? Down faster than a magician’s rabbit 🐇.
Analysts are now debating whether $3.23 is a resistance level or just a stubborn wall nobody can climb. Meanwhile, $2.80 is labeled “crucial bullish zone,” whatever that means.

Ah, dear reader, welcome to the circus of crypto chaos! Ripple (XRP) has decided to take an 8% nosedive in the past 24 hours, tumbling from a lofty $3.17 to a humble $2.90. The steepest plunge occurred during the witching hour of midnight on August 1st, where it dropped 3% in just one hour, trading 259.21 million units—nearly four times its usual hourly volume. Yes, you read that right. Four times. Someone clearly hit the “sell” button too enthusiastically 🕺.

At press time, XRP trades at $2.91 with a 24-hour trading volume of $7.4 million. Over the past week, it’s down 5%, and its market capitalization stands at $174 billion, based on a circulating supply of 59 billion XRP. A veritable feast for bears, wouldn’t you say?

Crypto analyst CRYPTOWZRD, who probably drinks espresso while staring at charts all day, noted that the daily candle closed bearish, but the monthly candle finished strongly bullish. Imagine celebrating your birthday by losing your wallet, only to find a lottery ticket inside. That’s the vibe here. He suggests that holding above $2.80 keeps hope alive, and breaking $3.30 could send XRP soaring toward $3.65. But let’s not get ahead of ourselves—this is crypto, after all, where dreams go to die and occasionally resurrect.

XRP Daily Technical Outlook: $XRP closed bearish. However, the Monthly candle printed strongly bullish. I’ll look for more short-term volatility from here to scalp opportunities. Both Bitcoin and BTC.D will play a role ‍
— CRYPTOWZRD (@cryptoWZRD_) August 1, 2025

Intraday analysis points to $3.23 as a key resistance level—a number that seems to mock traders like a mischievous poltergeist. Trading above it might bring joy to the longs, but falling below $3 ensures the bears stay in charge. And oh, the analyst predicts short-term volatility, because apparently Bitcoin and its dominance are still pulling strings backstage like a puppet master 🎭.

Now, let us turn our attention to the grand spectacle of market structure and whale activity. A double bottom pattern may be forming, which sounds romantic until you realize it’s just XRP bouncing twice off the same support level. Should this pattern break upward, recovery attempts will ensue, complete with fanfare and confetti. Or not.

On-chain data reveals whales behaving like moody teenagers. Large holders have been selling roughly $28 million worth of XRP daily over the last 90 days. Yet, paradoxically, over 310 million XRP tokens—worth nearly $1 billion—were accumulated during the recent correction. Exchange balances fell dramatically, indicating movement toward off-exchange storage. Perhaps these whales are simply tired of being watched 🐳.

And so, dear reader, we leave you with this thought: In the world of crypto, every dip is both a tragedy and an opportunity. Whether XRP rises like a phoenix or continues its descent into the abyss remains to be seen. But hey, isn’t that what makes it fun? Or horrifying. Either way, strap in—it’s going to be a bumpy ride 🎢.

2025-08-01 12:26

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