XRP Holds $2.75 After Sharp Sell-Off — Market Awaits Clarity on Direction

Summary:
XRP tumbled nearly 9% in the 24 hours ending August 3 at 04:00 UTC+7, slipping from $3.02 to $2.75 before stabilizing near $2.82. The sell-off was fueled by a surge in institutional selling, as trading volumes more than doubled the 24-hour average. While short-term support has formed around $2.75, the asset remains capped below key resistance at $2.84 amid lingering macro uncertainty.

Key Developments:

• Institutional activity intensified, with sell-side volumes between 14:00–18:00 UTC on August 2 peaking at 222.24 million XRP — a 183% increase over the average daily volume of 78.52 million.
• Support emerged at $2.75, following aggressive liquidation during the sharpest hourly decline. However, upside momentum was limited, with recovery attempts stalling at $2.84.
• XRP closed the session at $2.82, suggesting price consolidation below resistance amid weakened follow-through from buyers.
• Volume-weighted price action indicates possible accumulation near sub-$2.80 levels, though clear confirmation remains elusive.

Market Context:

XRP’s decline mirrors broader risk-off sentiment as global trade tensions and renewed tariff fears roil financial markets. Rising geopolitical risks and shifting macro dynamics have pushed institutional investors to de-risk, rotating capital away from altcoins and into higher-liquidity assets.

Analysts highlight a combination of central bank policy uncertainty and geopolitical flashpoints — notably U.S.-China trade developments — as key catalysts behind the broad crypto pullback.

Price Summary:

• 24H High: $3.02
• 24H Low: $2.75
• Closing Price: $2.82
• Total Range: $0.27 (▼8.91%)

Technical Overview:

• Volume climax at $2.75 coincided with XRP’s most rapid hourly drop — often a sign of capitulation or local bottom formation.
• The $2.75–$2.76 zone now acts as initial support, while the $2.84 area stands as near-term resistance.
• In the final hour of trading, volume dropped to ~650,000 XRP/min, down sharply from the peak of 3.7 million XRP/min, suggesting buyer fatigue or neutral flow after the decline.

What Traders Are Watching:

• Support Retest: Will XRP hold the $2.75–$2.76 support range, or does failure to reclaim $2.85+ hint at more downside?
• Flow Monitoring: On-chain data on institutional inflows or exchange outflows could validate accumulation or continued selling pressure.
• Macro Catalysts: XRP traders are also tracking the CoinDesk 20 Index, U.S.-China trade headlines, and broader market volatility for short-term directional cues.