Upbit's Decision to Move XRP Triggers Alarm, Possibly Linked to Ripple's 15% Slump?
In a recent development, the price of XRP, the third-largest cryptocurrency by market capitalisation, has seen a significant drop. According to the latest updates, XRP/USD and XRP/BTC closed in the red, with the price of XRP trading around $3.00 – a key support level – at press time.
The precipitous decline in XRP's price appears to be linked to a large sell order of 75 million tokens on South Korea’s Upbit exchange between July 16 and July 23, 2025. This sell-off triggered a sharp price drop of 10.34% to 15%, causing XRP’s price to plummet from around $3.50 to approximately $3.05 within days.
This sell-off overwhelmed market liquidity and the relatively thin order books for XRP, leading to cascading liquidations estimated at nearly $90 million in leveraged positions. The move caused increased price volatility and marked one of the worst single-day drops for XRP since April 2025.
Despite the size of the sell order representing only about 0.1% of total XRP supply, the sell-off exposed systemic liquidity vulnerabilities in XRP markets compared to more liquid cryptocurrencies like Bitcoin or Ethereum. The high trading volume of $14.2 billion during this period signals intense market activity but also suggests that underlying demand struggled to immediately absorb the large token dump.
Interestingly, while the sell order by Upbit sparked a steep correction, whale wallets have simultaneously been accumulating XRP, scooping up around 280 million tokens in recent weeks. Analysts interpret this pattern as the sell-off representing a short-term correction or "coffee break" rather than a sustained bearish trend, suggesting that institutional or “whale” interest in XRP remains robust despite recent volatility.
Charts point to a potential recovery if bulls step in at the $3.00-$3.10 range. If this happens, long-term projections suggest a path toward $15 if support at $3 holds. Resistance remains in place near $3.60 and $4.00 for XRP.
Ripple's CEO has warned users about scam accounts claiming to give promotions or giveaways, advising users not to interact with unverified accounts or hard-to-check deals. Users are encouraged to exercise caution and due diligence when engaging with cryptocurrency markets.
In summary, the large sell order on Upbit triggered a severe short-term price drop and liquidity shock, but strong whale accumulation suggests continued interest in XRP despite the recent sell pressure. Analysts consider the decline a temporary pullback rather than a lasting downturn. This event highlights how large concentrated sell orders on exchanges with limited liquidity can significantly impact XRP’s price, but strong whale accumulation hints at sustained future demand.
- The sell-off of 75 million XRP tokens on Upbit exchange caused a significant drop in XRP's price, with the price plummeting from around $3.50 to approximately $3.05 within days.
- Despite the sell-off, whale wallets have been accumulating XRP, scooping up around 280 million tokens in recent weeks.
- Charts suggest that if bulls step in at the $3.00-$3.10 range, there could be a potential recovery, and long-term projections indicate a path toward $15 if support at $3 holds.
- Ripple's CEO has warned users about scam accounts claiming promotions or giveaways, encouraging users to exercise caution and due diligence when engaging with cryptocurrency markets.
