- XRP was no exception to the recent market-wide correction, as U.S. tech giants faced mounting pressure.
- But is this just a temporary dip, or is the bottom still yet to come?
The crypto market is feeling the heat, shedding over 6% in total market value as the DeepSeek controversy has rattled the U.S. stock market.
Even giants like Ripple [XRP] are reeling with double-digit losses, millions wiped out, and panic spreading fast. Having lost its crucial $3 level, where will XRP find its next support?
Buy the dip or wait for the bottom?
A week after Trump’s swearing-in, Bitcoin [BTC] has dropped 9%, with bears pushing BTC below $100K in just 24 hours.
The remaining 140 hours saw BTC stuck between $100K and $105K. But now, it looks like the market has finally picked a direction.
The altcoin market mirrored this drop, but Ripple took an even bigger hit. In just one day, it plunged 11%, and is now down 20% from its $3.40 peak, reached just three days before Trump’s return to the White House.
Interestingly, in both cases, XRP showed no signs of overheating. It was the broader market panic creeping in, dragging the altcoin down with it. The result? A staggering 44.07% surge in long liquidations in just one day.
While a 20% drop from its peak might seem like a good entry point, retail capital hasn’t jumped in yet.
XRP flows off Binance have remained flat, and it’s still 98.96% down from the New Year rally, when 2.8 billion XRP were withdrawn.
Source: CryptoQuant
That said, $4 billion worth of XRP has been scooped up by whales since the U.S. election, signaling that the recent push past $3 was driven by aggressive accumulation.
The real question now: are these whales done buying, or is a distribution phase just around the corner?
XRP’s support hinges on big players
On its daily chart, since December, XRP has bounced back strongly at the $2.30 — $2.40 range, with retail capital pouring in, making this level a crucial support zone.
But here’s the catch: Around 29.5 million XRP were transferred to Coinbase, perfectly aligning with the 11% dip.
With long-term Bitcoin holders cashing out after raking in billions from BTC’s jump from $68K to $109K, XRP’s whales might be looking to do the same.
Read XRP’s Price Prediction 2025–2026
XRP has surged a massive 608% since the election, and these whales are sitting pretty on huge profits.
Source: TradingView
If the market-wide downturn continues, more HODLers could look to protect their profits, possibly driving XRP as low as $2.
