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- XRP rebounds strongly from dips as whales buy 120 million coins, keeping support levels firm.
- Ripple shows relative strength against Ethereum, holding above $3 while ETH hits multi-year lows.
Ripple Labs is once again in focus as XRP is showing strength thus far in the third quarter. The coin recently climbed close to its 2018 high of $3.50, its first major bullish breakout in seven years. Profit-taking quickly followed, with realized gains reaching $1.6 billion, the highest in six months.
Notably, that sell-off pushed the price down 11%, forcing XRP to crack the $3 support twice.
Buyers Defend Support as Whales Step In
The first slip below $3 came after the XRP lawsuit shift, as the price failed to stay above the $3.15 to $3.20 range.
While sellers had the upper hand briefly, buyers moved fast. From a $2.70 base, XRP bounced with a 22% surge. That move triggered a short squeeze that caught many late sellers off guard, proving that demand is still present when the price weakens.
Meanwhile, on August 14, the coin fell again, dropping almost 6% from $3.35. Yet the recovery was quick, with XRP gaining 8.6% to set a higher low. This rebound was important because it showed that buyers are ready to protect the market from slipping too far. As of writing, the coin was up 1.82% in 24 hours to $3.013.
Large holders also took advantage of the weakness. Reports showed whales picked up 120 million XRP during the dip. As we discussed in our earlier post, whales grabbed 120 million XRP in one day while trading volumes dropped sharply. Their activity added weight to the recovery and placed steady pressure on the price.
Though XRP trailed behind other altcoins earlier in the week, the fast bounce and whale support have kept interest alive. This makes it more important for traders watching the wider market.
These uncertainties are not unconnected to the trends around the XRP lawsuit. As noted in our previous news article, the US Securities and Exchange Commission (SEC) confirmed that it jointly submitted a request to dismiss existing appeals to conclude the case against Ripple (XRP)
XRP Shows Strength Against Ethereum
Notably, XRP is also showing signs of strength when compared with Ethereum. While Ethereum fell to a multi-month low, the XRP price held above $3. At the same time, the XRP/ETH ratio jumped more than 6% in under two days. The rise came from a strong support zone that had sparked an 85% rally in the past.
This pattern shows that XRP is not just recovering but also holding its ground against one of the biggest names in the market. With steady support, clear whale interest, and strong performance against Ethereum, XRP has remained in the spotlight.
If anything, Ripple news this quarter highlights three things. First, buyers defending key levels, whales adding pressure from below, and strength against Ethereum. These signals suggest that XRP may keep its lead over other altcoins in the coming weeks.
More fundamental news is poised to shape XRP’s growth trend in the coming months. As featured in our recent news coverage, lawyer Bill Morgan said two key events in October could shape XRP’s price. These are a possible bank charter approval and a major ETF decision.
