XRP slid to $2.97 in its sharpest decline in weeks, shedding 5.4% over a 23-hour stretch as retail selling overwhelmed order books. The move came on surging volumes that eclipsed daily averages, but whale wallets quietly absorbed the dip — scooping 440 million tokens worth $3.8 billion. The divergence between retail capitulation and institutional accumulation sets up a pivotal point around the $3.00 mark. News Background • XRP fell from $3.14 to $2.97 in under 24 hours, posting its steepest pullback since July. • Whale buyers added 440 million XRP even as retail traders dumped holdings. • A symmetrical triangle pattern has formed, with a breakout target near $3.90 if resistance clears. • Broader crypto markets saw correlated weakness amid rising risk-off sentiment. Price Action Summary • XRP lost 5.41% in the 23-hour window ending August 18 at 08:00. • The heaviest selling came between 01:00–03:00, with $3.08 to $2.97 collapse on 172 million volume. • Final hour saw muted recovery attempt, lifting XRP from $2.97 to $2.98. • Trading halted in the last four minutes of the session, suggesting closure or data disruption. Technical Analysis • Resistance is clustered at $3.08–$3.14, the zone that capped recovery attempts. • Support has shifted to $2.96–$2.97, where whales absorbed supply. • A symmetrical triangle points to $3.90 upside target if $3.26 breaks. • Golden cross emerged last week, but the signal has yet to trigger follow-through. • Volatility remains elevated, with $0.18 intraday range and 163% spike in volume versus averages. What Traders Are Watching • Whether whales continue absorbing dips near $3.00 support. • Breakout or rejection at $3.08–$3.14 resistance zone. • Impact of halted trading in final minutes — market glitch or structural weakness. • Continuation of broader market selloff or stabilization. • Confirmation of the triangle breakout toward $3.90 or breakdown below $2.96.
