- XRP has dropped about 19% from its $3.66 yearly high, with analyst Ali Martinez warning the correction could continue toward $2.48 after a TD Sequential sell signal, whale dumps, and an MVRV death cross.
- Bullish voices like Dom and EGRAG Crypto see recovery potential if XRP holds above $2.80 and reclaims $3 as strong support, with key breakout targets at $3.185, $3.25, $3.33, and $3.45.
- The token’s short-term direction hinges on whether bulls can defend critical support levels or if selling pressure from large holders pushes it lower.
XRP’s been in a bit of a tug-of-war lately. After ripping to a fresh yearly high at $3.66 just weeks ago, the broader crypto market hit a speed bump — and XRP wasn’t spared. Heavy selling on Korea’s giant exchange Upbit sent the token tumbling under $3, and right now it’s hanging around $2.96 — about 19% off its peak.
Some traders are treating this dip like a pit stop before the next run. Others… well, they think we might still be heading downhill before things stabilize.
Ali Martinez Thinks the Correction Isn’t Done Yet
Crypto market analyst Ali Martinez is firmly in the cautious camp. In a series of posts, he’s pointed to a handful of technical and on-chain signals that make him think XRP could still see more downside.
First on his list — the Tom DeMark (TD) Sequential indicator. On XRP’s 3-day chart, it flashed a sell signal right at the top. Martinez flagged this back on Aug. 3, and sure enough, the price has been sliding ever since.
Then there’s his view on accumulation zones. While XRP clung to $3 for a while, he reckons the $2.80 level isn’t real, lasting support — more of a speed bump. His real “floor” to watch? Somewhere under $2.48. If the market dips that far, he thinks that’s where buyers could really step in.
Adding to the bearish weight, Martinez pointed out a whale dump. On Aug. 2, big holders reportedly unloaded over 710 million XRP in just 24 hours. That’s the kind of move that can crush confidence, especially among smaller traders.
And then there’s the MVRV ratio death cross. This metric often signals an asset might be overvalued and due for a deeper pullback — another reason Martinez believes we’re not quite done correcting yet.
The Bullish Counterargument — Key Levels to Watch
Not everyone’s bracing for more pain. Trader Dom sees signs the market might be trying to turn the corner. He liked the bounce from his expected zone and called it healthy, but stressed XRP must reclaim $3 as strong support. Break and hold above $3.12, he says, and the bulls could start flipping the chart back in their favor.
Then there’s EGRAG Crypto, who’s keeping an eye on candle closes. He’s noticed XRP has managed to keep several full bodies above the $3 line — even if the wicks show sellers are still around. To him, that’s a sign the bulls aren’t out of the fight yet.
Still, he’s not ignoring the risks. EGRAG says a brief dip into $2.96–$2.93 wouldn’t shock him, but holding above $2.80 is critical. Stay above it and push past $3.185, and he thinks $3.25 comes into view — then maybe $3.33, $3.45, and beyond.
Big Picture
So right now, XRP’s stuck between two camps — the “brace for more red” crowd and the “dip’s over, let’s go” believers. Whichever side wins out will probably come down to whether bulls can defend $2.80 and flip $3 into a launchpad again. Fail that, and Martinez’s caution might just play out.
