Global trade tensions and macroeconomic shifts contributed to the broader sell-off, affecting risk markets.
XRP plunged nearly 9% in the 24-hour session ending August 3 at 04:00 (UTC+7), falling from $3.02 to as low as $2.75 before staging a mild recovery to $2.82. The decline was driven by heightened institutional selling pressure, with volumes during the heaviest selling window more than doubling the daily average. Price action suggests potential exhaustion near $2.75, though broader macro and liquidity risks remain elevated.
The XRP drawdown came amid widening global trade tensions and renewed tariff uncertainty that shook risk markets across the board. Meanwhile, institutional portfolios appeared to rebalance as macro conditions prompted capital rotation away from altcoins and into more liquid assets. Analysts point to ongoing adjustments by central banks and heightened geopolitical risk as catalysts for the broader sell-off.
