XRP Plunges 18% in Three Days, Briefly Dips Below $3 Support Level
TradingKey – Ripple’s native token XRP has faced intense selling pressure following its recent all-time high, with $3.00 emerging as a critical support zone.
On Friday, July 25, XRP extended its decline, briefly falling to $2.99, after surging to a record $3.66 earlier in the week. The correction marks an 18% drop over three days, driven largely by profit-taking activity.
XRP Price Chart – Source: TradingView
Profit-Taking Intensifies After Price Peak
XRP’s rally unlocked previously trapped positions, prompting heavy selling. Notably, Ripple co-founder Chris Larsen reportedly sold up to $200 million worth of XRP, contributing to the downward pressure.
At the time of writing, XRP has recovered slightly to $3.14, suggesting strong dip-buying interest near the $3.00 level.
Key Support Levels & Bitcoin Correlation
- $3.00 remains a pivotal psychological and technical support.
- If Bitcoin (BTC) fails to hold above $115,000, XRP could face further downside.
- The next major support zone for XRP is around $2.00, based on historical price action and moving averages.
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