The XRP price has dropped 11% over the past week, but technical indicators and active buyer interest suggest bullish momentum may still prevail. Despite a noticeable downturn, the token continues to show signs of resilience within its current trading range.

Recent XRP Price Trends and Market Stability

XRP experienced notable volatility in recent days, dipping to $2.82 before rebounding to $2.93. This movement came amid a wave of buyer interest at lower levels, despite increased selling pressure from large holders. At last check, XRP was hovering around $2.90—representing an 11% decline over the past seven days. Daily trading volume stands at approximately $6 billion, reflecting a 5% drop as the market pauses to define its next direction.

Technical analysis points to a rectangular consolidation pattern following XRP’s earlier breakout this year, as shared by market analyst GalaxyBTC. This type of chart setup often indicates an impending continuation in the direction of the previous trend, which in this case, is bullish.

GalaxyBTC emphasized, “Consolidations are healthy. Especially after such a strong breakout. A bullish continuation from here is the most likely scenario.” The key now lies in whether XRP can maintain support and break above its next resistance levels—primarily at $3.26 and $3.33.

A chart showing a typical blockchain consolidation pattern, often preceding a breakout move.

Whale Activity and XRP Supply Dynamics

Over 470 million XRP tokens were recently moved to exchanges, including substantial transfers to Binance. This wave of offloading from whale wallets has been viewed as profit-taking behavior following earlier accumulation phases. Some transactions exceeded 100 million XRP individually, indicating coordinated selling among large holders. (reported)

Despite this heavy selling, it’s important to note that these same whale wallets previously bought upwards of 320 million XRP during market pullbacks—purchases estimated at nearly $1 billion in value. This prior accumulation acted as a strong support foundation for XRP’s price, keeping it above critical levels during short-term corrections.

Additional recent transfers, such as an 11.8 million XRP movement, signal that whales remain actively engaged in the market, hinting that liquidity remains robust.

Technical Indicators Suggest Potential Rebound

According to analyst Ali Martinez, the TD Sequential indicator has flashed a fresh buy signal on XRP’s hourly chart. This same tool accurately predicted XRP’s July peak at $3.65, adding weight to its credibility. This latest signal may point to a short-term bounce, offering bullish traders an opportunity. (view)

Wider market sentiment has been cautious due to crypto-wide liquidations totaling $360 million. The pullback in risk assets created pressure across digital currencies. However, XRP’s ability to hold the $2.90 support region reflects relative strength during volatile conditions. If buying interest persists near these support levels, it could create the foundation for a renewed push toward resistance targets outlined earlier.

Related: XRP Price: $12M Max Pain for Bears

The XRP price may have taken a hit recently, but the long-term chart pattern, combined with ongoing whale engagement and technical indicators, suggests there’s still optimism among bullish traders.