XRP Tumbles After Hitting $3.66 High — Is a Recovery in Sight?

The post XRP Tumbles After Hitting $3.66 High — Is a Recovery in Sight? appeared first on Coinpedia Fintech News

Since July 22, the XRP market has declined by 13.65%, with selling pressure intensifying. Despite the sudden plunge, support levels between $3.06 and $3.10 have remained resilient, signaling potential price stabilization in the near term.

With new XRP-based treasury initiatives launching and regulatory uncertainty over ETF approvals mounting, traders and analysts are closely watching for signs of a rebound.

XRP Price Action: Surge Followed by Sharp Decline

At the beginning of July, XRP was trading near $2.17. Over the next week, it ranged between $2.14 and $2.35. On July 9, the price broke above this zone with a 3.95% daily gain. Between July 9 and 21, XRP surged by 53.68%, supported by a strong uptrend and over 10 consecutive green candles.

However, on July 22, heavy liquidation pressure—triggered by over $100 million in long positions—led to a sharp 13.65% decline. According to on-chain data from CryptoQuant , many of these liquidations were the result of profit-taking near strong resistance levels.

Key Technical Levels: Resistance and Support Zones

XRP reached a recent high of $3.66 on July 18. Technical charts highlight strong resistance between $3.24 and $3.26 and critical support between $3.06 and $3.10.

In recent hours, XRP tested both zones multiple times. At the time of writing, XRP trades at $3.08—approximately 0.64% above the nearest support.

Notably, a flash dip was recorded earlier, briefly pushing XRP to $0.03 on select exchanges before recovering. Analysts believe this was due to isolated exchange issues rather than organic price action.

Institutional Developments Fuel Long-Term Optimism

Recent announcements underscore institutional interest in XRP:

• Nature’s Miracle , a U.S.-based company, launched a $20 million XRP treasury initiative, marking one of the first corporate reserve strategies based on the token.
• VERT , a Brazil-based fintech firm, introduced a $130 million blockchain solution on the XRP Ledger, targeting tokenized credit applications.

These moves highlight XRP’s growing use case in treasury and real-world financial systems, reinforcing its role in next-gen financial infrastructure.

While current price movement may suggest declining interest, analysts from Messari and CoinShares suggest this is likely temporary and linked to ETF decision delays rather than a fundamental loss of faith.

XRP Spot ETF: What’s at Stake?

The U.S. SEC has already approved a futures-based XRP ETF . However, multiple applications for a spot XRP ETF—most notably the REX-Osprey filing—are still under review.

According to Bloomberg ETF analysts, there’s a 95% chance of spot XRP ETF approval by 2025. A key regulatory decision is expected today, which could act as a short-term catalyst.

What Comes Next for XRP?

Experts, including Matthew Sigel from VanEck and market analysts at Glassnode, suggest that XRP must hold above $3.06 for potential recovery. A sustained bounce above $3.15 could encourage institutional re-entry and retail confidence.

Price movement over the next few days will likely hinge on:

• Outcome of spot ETF decisions
• Recovery of Bitcoin and broader altcoin market
• Further on-chain buying by whale wallets

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

Subscribe to News

FAQs