Late Buying Interest Signals Possible Whale Accumulation Amid Market Shakeout
XRP dropped sharply by 7% in the last 24 hours, hitting $3.11 after a wave of $437 million in sell orders triggered widespread volatility across the cryptocurrency market. The sudden sell-off contributed to over $1 billion in liquidations across major digital assets, marking one of the largest intraday shakeouts in recent weeks.
On the 4-hour chart, XRP fell from its $3.40 resistance zone into a green demand area near $3.05, where buying pressure emerged. This level, tested multiple times since early August, once again acted as a short-term support. Above, heavy selling remains visible between $3.30 and $3.60, while stronger support lies around $2.65–$2.80, highlighted by previous breakout levels.
“The current drop looks more like a liquidity sweep rather than a breakdown,” According to BITX market analyst. “If bulls can defend the $3 zone, a retest of the $3.40 region is possible in the coming sessions.”
Market Context and Whale Activity
Blockchain transaction trackers show several large XRP transfers to exchanges prior to the sell-off, suggesting profit-taking by major holders. However, late-session order books indicate renewed accumulation, with sizable buy walls forming just above the $3.05 support.
“This type of deep pullback often flushes out overleveraged traders, allowing bigger players to reload at discounted prices,” .
For bulls to regain momentum, XRP needs to close above $3.40 on strong volume, which could open the way to the $3.60–$3.80 resistance band. On the downside, losing the $3.00 mark could accelerate selling toward $2.80 and potentially $2.65.
In short, while today’s drop shook the market, the underlying technical structure suggests XRP remains within a broader accumulation phase — with whales possibly positioning for the next move up.
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.