XRP Dips 5.3% Despite Whale Activity and Ceasefire-Driven Sentiment Boost

XRP slid 5.3% over the past 24 hours, falling from $2.21 to $2.10, as bearish pressure overwhelmed a broader market bounce triggered by easing geopolitical tensions. Despite former U.S. President Donald Trump reportedly brokering a ceasefire between Iran and Israel, XRP failed to hold its recent gains, underscoring ongoing investor caution.

The drop was intensified by significant on-chain whale activity. Ripple moved $439 million worth of XRP to an unknown wallet, while an additional $58 million was sent from whale wallets to centralized exchanges. These transactions sparked speculation about potential token distribution or internal rebalancing, further unsettling the market.

Technically, XRP struggled to breach key resistance at $2.14 and $2.17, with multiple rejection wicks forming above $2.12. The sharpest price decline occurred between 12:00 and 16:00 UTC on June 26, when hourly volume peaked above 99 million XRP, driving the asset down to $2.10. By session’s end, XRP briefly revisited its $2.08 low before a minor rebound lifted the price to $2.10, where it stabilized in low-volume trading.

Analysts continue to track a descending channel pattern on XRP’s chart, expecting a breakout or breakdown between July and September. For now, the $2.08–$2.09 range remains a critical support zone. Failure to hold this level could open the door to deeper losses, while a move above $2.17 would be needed to confirm a bullish reversal.

Despite momentary recoveries, XRP remains under pressure, with bearish momentum prevailing. Short-term traders are eyeing the $2.10 consolidation area for direction, as sentiment hinges on both macro developments and on-chain signals.