Whales Offload 640 Million XRP as $2.65 Key Support Zone Faces Test

- XRP drops 19% from its yearly high of $3.65 on July 18. - Major whale selloffs and pivotal technical levels shape the cryptocurrency's outlook. XRP faces intense price pressure following a 19% decline from its yearly high of $3.65 on July 18, 2025. On August 6, 2025, Cointelegraph reported that XRP is now approaching a crucial support level at $2.65. Analysts view this level as critical to preserving its bullish momentum and are closely scrutinizing the support zone, cautioning that losing it could erase recent gains and expose the cryptocurrency to a deeper slide toward the $2 threshold. Large XRP holders, known as "whales," have significantly influenced market dynamics, having unloaded approximately 640 million XRP tokens since July 9. This aggressive selloff intensifies the downward pressure on the price, amplifying concerns that XRP may struggle to hold the $2.65 support zone. The $2.65 level marks a convergence of important technical metrics, including the quarterly Volume-Weighted Average Price (VWAP) and the 50% Fibonacci retracement level from XRP’s yearly peak. Analysts emphasize that defending this level could pave the way for a recovery, potentially targeting a new all-time high of $4.15. However, a break below $2.65 could undermine bullish momentum and lead to further declines. According to CoinMarketCap data on August 6, XRP was trading at $3.009 as of 16:09 UTC, while its 24-hour trading volume showed a 0.991% change.