XRP (CRYPTO: XRP) is reeling from an ongoing correction, which is weighing on the token’s price despite institutional interest.
| Cryptocurrency | Ticker | Price | Market Cap | 7-Day Trend |
| XRP | (CRYPTO: XRP) | $2.94 | $174.4 billion | -5% |
| Bitcoin | (CRYPTO: BTC) | $113,994.59 | $2.3 trillion | -3.4% |
| Ethereum | (CRYPTO: ETH) | $3,621.59 | $437.2 billion | -4.2% |
Trader Notes: Crypto chart analyst Ali Martinez predicts XRP may face deeper downside, citing multiple technical red flags:
- Tom DeMark Sequential indicator recently flashed a sell signal on the 3-day chart, initiating the ongoing pullback.
- The next critical support level is $2.40. While $3 offered initial support, on-chain data highlights $2.80 as a soft buffer, with real demand starting below $2.48.
- Whale activity is also turning bearish. Over 720 million XRP have been dumped recently.
- The MVRV ratio just triggered a death cross, further supporting a bearish short-term outlook.
Martinez's trade record stands at 26 trades in July, yielding a total profit of 108.6%. He entered XRP at $2.33 on July 7, exiting with 11.1% profit and re-entered on July 24 and 30, earning 4.4% and break-even, respectively.
Statistics: CoinShares reports $31.3 million inflows into XRP last week — in contrast to outflows from Bitcoin — signaling continued institutional interest.
Whale Alert reported a transfer of 20 million XRP (worth ~$60.6M) from Upbit to an unknown wallet on Aug. 5.
Coinglass data shows XRP options volume having surged 94.8%, and open interest rising 82.8% in a single day. In the past 24 hours, $15.3M in XRP positions were liquidated, with long liquidations accounting for $13.3 million.
Community News: Ripple is expanding its footprint in Asia through a partnership with Korean crypto custodian BDACS to offer institutional-grade custody for XRP and RLUSD in South Korea. Ripple Custody will provide secure infrastructure for managing digital assets.
BDACS’ integration with top Korean exchanges — Upbit, Coinone, and Korbit — enables regulatory-compliant XRP deployment across the region’s leading trading platforms.
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