“The market couldn’t withstand the pressure,” — that’s how traders on major exchanges described the overnight XRP plunge. Within 24 hours, the token’s price dropped by 8% — from $3.17 to $2.94 — breaking a key psychological support level. The sharpest drop occurred at midnight on August 1: the price fell 2.7% in one hour, while trading volume hit 259 million XRP — nearly four times the daily average.

“It felt like mass capitulation,” commented one analyst. By morning, signs of a rebound appeared: the price recovered to $2.98 and volume started to decline. According to market participants, this may indicate institutional buyers stepped in to prevent further collapse.

Interestingly, whale wallets continue to unload — blockchain data shows that large holders are selling around $28 million worth of XRP per day. At the same time, more than 310 million tokens have been withdrawn from exchanges, possibly suggesting strategic accumulation.

Adding to the intrigue, Maxwell Stein, Head of Digital Assets at BlackRock, confirmed his participation in Ripple Swell 2025, sparking discussions about growing institutional interest in XRP despite current volatility.