XRP Plunges 15% as Upbit Sell-Off Shakes Ripple Market

XRP has taken a sharp hit following a significant sell-off on South Korea’s Upbit exchange, highlighting yet another twist in Ripple’s recent volatility. The sudden market move has sent ripples through the crypto community, causing a 15% drop in XRP’s value.

Massive XRP Sell-Off Sparks Market Turmoil

In the past 24 hours, Ripple’s XRP experienced a substantial correction, falling to $3.05 after more than 75 million tokens were offloaded by Upbit. Analysts believe that the thin liquidity on the exchange exacerbated the downward pressure. The aggressive market sell order swiftly outpaced available bids, causing the asset to plummet. The move came shortly after XRP had reached fresh highs above $3.65 earlier in the week—momentum quickly undercut by the heavy dumping action.

At the time of writing, XRP has stabilized slightly above $3.00, a support level closely monitored by traders. This range could prove pivotal in determining short-term direction. Should the price stay above this threshold, bulls may regain some control and potentially reverse the recent losses.

Whales Accumulate Amid Market Dip

Despite the price slump, whale activity has been active and noteworthy. Over the past 10 days, large XRP holders have collectively added more than 280 million tokens to their wallets. Crypto analyst Ali Martinez highlighted this significant accumulation as a potential counterbalance to the market downturn.

This strategic move suggests that institutional and high-net-worth investors may view the current dip as a buying opportunity. Historical trends show that whale accumulation during turbulent periods often provides a cushion for further declines and sets the stage for future rallies—especially if key support levels hold.

Pullback Follows Resistance Rejection

XRP had recently encountered resistance near the $3.65 level. The failure to break above this key area, along with surging Bitcoin dominance, appears to have encouraged traders to rotate out of altcoins. According to market watchers like CryptoWZRD, XRP/USD and XRP/BTC pairs both closed negatively, indicating a broader sentiment shift away from altcoins.

Currently, the $3.00 to $3.10 range is emerging as a significant battleground. If bullish sentiment returns within this corridor, there is potential for recovery. However, securing a rally above $3.60 and pushing toward the $4.00 mark remains essential for XRP to regain its upward momentum.

Ripple CEO Sounds Alarm on Scams

Adding to the tension, Ripple’s CEO has issued a public warning regarding fraudulent social media accounts impersonating the company. These accounts have been promoting fake giveaways and misleading offers. Users are strongly advised to avoid engaging with unverified profiles and remain cautious of any deals that seem too good to be true.

Even amid volatility, XRP is commanding notable attention. Its trading volume recently surged to $14.2 billion, underlining sustained interest from investors. Technical outlooks continue to suggest a potential path toward the $15 mark, provided the $3.00 support level remains intact.

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

While the current market environment is turbulent, shifting dynamics—including strategic whale moves and rising trading volumes—reveal that XRP still holds considerable long-term promise, despite recent shocks.