- Volume’s thinning out, and $2.95 support is getting tested.
- $88M outflow suggests some whales might be accumulating.
- Shorts dominate leverage markets… which could get messy fast.
Ripple’s XRP isn’t looking too hot lately—technical signals are throwing up red flags, and price action isn’t exactly inspiring confidence either. A not-so-fun Inverted Cup and Handle pattern is shaping up on the daily chart, hinting at more downside ahead unless something changes fast.
The token’s already shed almost 20% from its July peak, and while bulls are still holding the line around $2.95, that support’s looking wobbly. Unless they show up with conviction, XRP could be in for a pretty steep slide.
Stuck Around $2.93, But Bulls Are Losing Grip
At the time of writing, XRP is hanging around $2.937, with just a tiny 0.7% gain in the past 24 hours. But the price has basically been stuck here for four days straight. That kind of sideways chop, especially with falling volume, doesn’t exactly scream strength.
CoinMarketCap data shows trading volume dropped 17%—not a great sign. Traders seem to be backing off, maybe waiting for a clearer signal before committing either way. But when participation dries up during a bearish setup… it usually doesn’t end well.
Chart Says Uh-Oh: Bearish Pattern, Weak Volume
According to AMBCrypto’s technical read, XRP’s daily chart is forming an Inverted Cup and Handle. That’s often a warning that a breakdown might be coming.
If buyers can’t hold the $2.95 level, the price could fall another 13%, aiming for the next support near $2.60. Analyst Ali Martinez also flagged $2.55 and $2.40 as spots to watch closely—both solid candidates for where XRP might catch its breath if it tumbles further.
That said, not all indicators have flipped bearish. The Supertrend on the daily chart is still green and sitting under the current price. So, technically, the broader trend’s still hanging on for dear life.
$88 Million Pulled From Exchanges—Hope for Bulls?
Despite the grim technicals, some on-chain signals are hinting at possible accumulation. CoinGlass reports over $88 million worth of XRP has been pulled from exchanges in the last 48 hours.
That kind of outflow often suggests long-term holders are scooping up coins on the dip—maybe they know something we don’t, or maybe they’re just taking a shot. Either way, it shows there’s still some conviction out there.
Short-Term Sentiment Tilts Bearish, Leverage Builds
On the derivatives side, things aren’t much better. Traders are loading up on short positions, clearly betting XRP will head lower.
Per CoinGlass, key liquidation zones are parked at $2.89 and $3.07. And here’s the kicker: there’s $113.64 million in shorts stacked up vs. just $62.72 million in longs. That’s a pretty heavy tilt toward the bearish side.
Put all this together, and it’s a bit of a mixed bag. Short-term pressure is clearly building against XRP, but there’s still some long-term hope flickering in the background—assuming bulls don’t fumble that critical $2.95 level.
