- XRP dropped over 7%, testing support at $2.04 while whales moved 53M tokens to Coinbase, sparking sell-off fears.
- CoinGlass data shows $91M in shorts stacked near $2.26, creating strong resistance unless bullish momentum returns.
- XRP is trading at $2.13; a break below $2.00 could lead to $1.74, while a bounce might target $2.60 if support holds.
Ripple’s XRP is wobbling under pressure—again. After dropping more than 7% in just 24 hours, the token sank to a fragile support zone near $2.04, brushing right against the 200-day EMA. Traders are on edge. It’s one of those moments where things could either rebound—or unravel fast.
The market structure’s not looking too cozy either. There’s a growing bearish tilt in both sentiment and positioning. And yeah, whales might be playing a part in the tension. Whale Alert recently flagged a big one—53 million XRP (roughly $118 million) was moved to Coinbase from an unknown wallet. That’s the kind of transfer that makes people nervous. No official confirmation that it was a sell-off, but the timing? Let’s just say… it’s not a great look.
Traders Stack Shorts While Support Wobbles
According to CoinGlass, the XRP liquidation map is flashing red. Bears have set up camp between $1.96 and $2.26, with a whopping $91.66 million stacked at $2.268 alone. That’s a lot of people betting against a breakout. There’s another $43.6 million in short positions lingering around $1.96.
All of this creates a kind of “short wall”—a zone that XRP will seriously struggle to push through unless bulls show up hard. Until then, any rally faces a big ol’ layer of resistance. And it’s not just psychological—it’s cash on the table betting it won’t happen.
Volume has spiked too—up 75%, which shows traders are paying attention. Whether that energy fuels a recovery or a deeper fall… well, we’re about to find out.
Support Holds—for Now—but It’s a Thin Line
At press time, XRP was trading at $2.13, down another 2.65% on the day. Not great, but not a collapse either. The price is retesting the 200-day EMA at $2.08 while trying to cling to a horizontal support zone. AMBCrypto’s analysis still leans bullish in the long run, but the short-term structure? Yeah, it’s wobbly.
If the price slips below $2.00, we could see it tumble down toward the next big support at $1.74—a 13% drop from here. On the flip side, if buyers can flip the mood, XRP could aim for a 22% bounce to $2.60. Big “if” though.
Right now, the token’s stuck in a tug-of-war—whales shifting coins, shorts piling up, and a battered support zone barely holding the line. This next move? It’s gonna matter.
