XRP experienced a notable price drop, reaching $3.00 before recovering amidst record selling volumes in the crypto market, signaling potential new accumulation and growth stages.
Sharp Price Decline of XRP
In the last 24 hours, XRP dropped over 6%, hitting $3.00 before slightly recovering. The decline occurred during a broad sell-off in the crypto market due to over $1 billion in liquidations, marking the asset's lowest price in over a week.
The 24-hour trading volume exceeded $11.1 billion, with a significant wave of selling pressure in the early hours. During that time, XRP recorded 436.98 million units traded in a single hour—the highest hourly volume this quarter. Late in the session, buying increased, helping stabilize the price around $3.12.
Institutional Buying and Accumulation
Crypto analyst Crypto King noted that XRP has moved out of its accumulation and manipulation phases, entering an expansion phase with a target price of $7 in this cycle. Their analysis is based on chart structure and increased interest from large players.
Supporting this, on-chain data from Ali Martinez indicates that large holders bought around 320 million XRP in the past three days, amounting to roughly $1 billion. Such buying often reduces short-term selling pressure and can influence how smaller investors react.
XRP’s price structure reflects a shift after a clean breakout in mid-July, with more than a 66% gain before entering a sideways range. Crypto King’s chart outlines three phases: accumulation, manipulation, and expansion. Current price movements suggest XRP may be starting the third phase.
Market Context and Technical Support
The recent decline in crypto prices follows a broader drop in risk assets, with U.S. equity markets also showing profit-taking, possibly adding pressure across digital assets.
Despite the pullback, Ripple’s CTO reaffirmed the XRP Ledger’s role in supporting financial systems. With the price sitting near a key support level, traders are watching for signs of strength as the expansion setup unfolds.
Short-term price fluctuations of XRP, driven by mass sell-offs, may create conditions for stronger institutional investor engagement. Current analytical data suggests that XRP may be entering a new growth phase, targeting $7.
