- XRP was no exception to the recent correction on a market scale, as American technology giants were faced with increasing pressure.
- But is it just a temporary drop, or is the bottom still to come?
The cryptography market feels heat, losing more than 6% in total market value, because the deep controversy has shaken the American stock market.
Even the giants like Ripple (XRP) are in shock of two -digit losses, millions annihilated and panic spreads quickly. Having lost its crucial level of $ 3, where will XRP find its next support?
Buy the dive or wait for the bottom?
A week after the Trump procedure, Bitcoin (BTC) dropped by 9%, bears pushing the BTC below $ 100,000 in just 24 hours.
The remaining 140 hours experienced BTC between $ 100,000 and $ 105,000. But now it seems that the market has finally chosen a management.
The Altcoin market reflected this drop, but Ripple took an even greater blow. In one day, it dived 11% and is now down 20% compared to its $ 3.40 summit, only reached three days before Trump’s return to the White House.
Interestingly, in both cases, XRP has shown no overheating sign. It was the panic of the wider market that slipped, dragging the Altcoin with it. The result? An amazing increase of 44.07% of long liquidations in a single day.
Although a 20% drop in its peak may seem like a good entry point, the retail capital has not yet jumped.
The XRP flows out of Binance remained flat, and it is still down 98.96% compared to the New Year’s rally, when 2.8 billion XRP was removed.
Source: cryptocurrency
That said, $ 4 billion in XRP have been picked up by whales from the US elections, reporting that the recent $ 3 push was motivated by an aggressive accumulation.
The real question now: are these whales made, or is a distribution phase just at the corner of the street?
XRP support depends on the big players
On its daily graphic, since December, XRP has returned strongly to the fork of $ 2.30 – $ 2.40, the retail capital fading this level a crucial support zone.
But here is the socket: approximately 29.5 million XRPs were transferred to Coinbase, aligning perfectly with the drop of 11%.
With long -term bitcoin holders in collection after having billed billions of BTC whales from $ 68,000 to $ 109,000, XRP whales could seek the same.
Read the price forecast of XRP 2025-2026
XRP has increased by 608% from the elections, and these whales are seated on huge benefits.
Source: tradingView
If the market -scale slowdown continues, more Hodlers could seek to protect their profits, which can possibly drive XRP as low as $ 2.
