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Bitcoin, Ethereum, and Ripple’s XRP have all suffered declines, with investors grappling with mounting sell pressure across the board. Yet, despite the red sea, XRP is flashing potential signs of resilience that could see it break above the $3.1 mark in the coming sessions.
Crypto Market Extends Bearish Slide
The total cryptocurrency market cap fell by 4.5% over the last 24 hours, wiping out most of the gains recorded late last week. Bitcoin (BTC) slipped by 3.5% and is now trading below $110,000, while Ethereum (ETH) risks falling under $4,400 just days after reaching an all-time high near $4,900.
XRP, Ripple’s native token, has not been spared. The asset lost nearly 5% of its value and is now changing hands below $3. The downturn highlights persistent market uncertainty, fueled by macroeconomic factors and technical corrections following a strong summer rally.
XRP Dips Below $3 Amid Market Turmoil
Ripple’s XRP slid as low as $2.82 during the sell-off before recovering slightly to the $2.9 range. The drop mirrors the broader market decline but also comes at a time when Ripple has unveiled fresh initiatives designed to strengthen XRP’s real-world utility.
One of the most notable developments is the start of an XRP-focused Mastercard credit card, rolled out by Gemini in collaboration with Ripple. The card, issued by WebBank, allows users to earn up to 4% cashback in XRP across categories like gas, EV charging, dining, and rideshare services.
Ripple CEO Brad Garlinghouse underscored the importance of such tools in driving adoption: “Fifty-five million Americans own crypto, and that number is only increasing as more people look for easier ways to access and use it in their daily lives. With Gemini, we’re making everyday spending a chance to earn and connect with both XRP and RLUSD.”
Despite the start, XRP’s price remains under pressure—though long-term holders see this dip as a potential accumulation opportunity.
Whale Accumulation Signals Confidence
While retail sentiment wavers in the face of short-term volatility, on-chain data suggests whales are quietly increasing their XRP holdings. According to Santiment, wallets holding between 1 million and 10 million XRP now control roughly 10.6% of the circulating supply—up from 9.14% in March and 9.8% in July.
This steady accumulation indicates confidence among large investors that XRP’s price will rise in the medium to long term. Historically, whale activity has often preceded strong bullish reversals in crypto markets, as larger players typically accumulate during periods of market weakness.
Technical Outlook: Neutral but Tilting Bullish
From a technical perspective, XRP’s 4-hour chart is flashing a neutral-to-bullish setup.
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The MACD lines are hovering near the negative zone, showing limited momentum but leaving room for a bullish crossover if buying resumes.
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The Relative Strength Index (RSI) sits at 47, just above oversold territory, suggesting sellers may be losing steam.
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Key support levels remain intact at $2.77 and $2.72, protecting XRP from deeper declines.
If buyers regain control, XRP could test the $3.1 resistance level in the coming hours or days. A breakout above that level would open the path toward $3.4, which has historically served as a critical barrier.
XRP in the Broader Ripple Ecosystem
The latest push to integrate XRP into consumer finance via Gemini’s Mastercard partnership illustrates Ripple’s long-term strategy to make the token more than just a speculative asset. The addition of Ripple USD (RLUSD) for U.S. spot trading further expands XRP’s ecosystem, giving users more utility in both stable and volatile markets.
As Ripple continues to secure institutional partners and develop payment solutions, XRP could benefit from both adoption and speculative momentum. Analysts argue that pairing real-world usage with on-chain whale activity strengthens the case for a medium-term bullish reversal.
Risks Remain as Selling Pressure Persists
Still, investors should be cautious. The current market climate is dominated by uncertainty, and heavy selling pressure could drag XRP back toward its recent low of $2.77. If that level breaks, a further slide to $2.72 is possible.
Moreover, external factors—such as macroeconomic tightening, regulatory developments, and broader crypto market sentiment—could weigh heavily on XRP’s trajectory. A breakout above $3.1 is not guaranteed unless the market stabilizes and investor confidence returns.
Outlook: Watching the $3.1 Level Closely
In summary, while XRP has suffered alongside the wider crypto market, several bullish indicators remain: whale accumulation, neutral-to-strong technical support, and expanding real-world use cases. If the recovery persists, a breakout above $3.1 is possible in the short term, with $3.4 as the next target.
However, persistent volatility means traders should closely monitor support levels at $2.77 and $2.72. The next few days could prove decisive for XRP’s near-term direction—whether it cements a recovery rally or succumbs to further selling pressure.
