XRP Rises After a 6% Drop: Whale Buys 1 Billion USD, Preparing for a Rise to 7 USD?

XRP has fallen over 6% in the past 24 hours, down to $3.00 before a slight bounce back. This drop comes amid the crypto market experiencing a strong sell-off, with over $1 billion being liquidated. This is the lowest price of this coin in over a week. The 24-hour trading volume surpassed $11.1 billion, with strong selling pressure occurring at the beginning of the hour. During that time, XRP recorded 436.98 million units traded in one hour - the highest hourly trading volume this quarter. Towards the end of the session, buying pressure increased, helping to stabilize the price around $3.12. Buy Signal from the New Accumulation Organization Crypto analyst Crypto King shares the view that XRP has escaped the accumulation and manipulation phase. They believe that the next phase, expansion, is currently underway, with a price target of $7 in this cycle. Their analysis is based on chart structure and increasing interest from major investors.

Supporting this, on-chain data from Ali Martinez shows that large holders have purchased around 320 million XRP in the past three days. The total transaction value is approximately 1 billion dollars. This type of buying often reduces short-term selling pressure and can shape the response of retail investors. The price structure of XRP shows a change after a spectacular breakout in mid-July. Since then, the price has increased by more than 66% before entering a sideways range. The chart from Crypto King outlines three phases: accumulation, manipulation, and expansion. The current price volatility suggests that XRP may be beginning the third phase. A private chart shared by CryptoBull shows that XRP is trading within a symmetrical triangle pattern on the 4-hour timeframe. The price has bounced back to retest the previous resistance level, which is now acting as support. This is commonly seen in healthy market trends, where buyers step in after accumulation. Market Context and Technical Support The recent fall in cryptocurrency prices has occurred following a broader decline in risk assets. The U.S. stock market also witnessed profit-taking, which may have increased pressure on digital assets. Despite the fall, the CTO of Ripple has reaffirmed the role of the XRP Ledger in supporting financial systems. With the price near an important support level, traders are watching for signs of growth as the expansion process unfolds.