TLDR
- XRP price reached an all-time high above $3.6 in mid-July before experiencing a sharp correction.
- The token faced strong resistance at $3, with a recent drop to $2.9 following whale selling activity.
- Despite positive developments like South Korea’s BDACS support, XRP price struggles to gain traction.
- Global market uncertainty continues to weigh on XRP price, limiting its upward movement.
- Ripple’s partnership with Japan’s SBI Group failed to drive significant price growth for XRP.
XRP price saw a remarkable rise in mid-July, reaching an all-time high above $3.6. However, the token’s price quickly faced a correction, dropping to $2.73 after a surge of whale selling. As of today, XRP price is still below $3, down by 4% on the day.
XRP Price Faces Strong Resistance at $3
After XRP’s breakout to a new all-time high in mid-July, many believed the asset had conquered the $3 resistance. Despite the initial euphoria, the price dropped sharply as large holders offloaded tokens. The price rebounded briefly, reaching $3.1 but failed to hold, with bears quickly pushing it back down to $2.9 today.
Ripple has seen significant developments, such as South Korea’s BDACS announcing support for XRP. Furthermore, rumors suggest BlackRock might soon enter the XRP ETF space. Yet, these positive developments haven’t translated into price growth, as XRP price struggles to maintain momentum.
Overall Market Conditions Impact XRP Price
The broader market’s downtrend continues to affect XRP price. Digital assets, in general, have failed to make substantial gains recently, reflecting global economic uncertainty. While Ripple has made strides with institutional partnerships, the general market sentiment remains bearish, limiting XRP’s upward movement.
Meanwhile, Ripple’s partnerships with major financial players like Japan’s SBI Group also seem to have little impact on XRP’s price.
🚨BREAKING: The largest banking group “SBI Japan”, is planning to launch two ETFs linked to Bitcoin, #XRP and Gold! pic.twitter.com/NaeJVNLnq0
— JackTheRippler ©️ (@RippleXrpie) August 5, 2025
SBI filed to launch ETFs tracking both Bitcoin and XRP, yet the news hasn’t sparked significant buying interest. Given the current market climate,the XRP price remains vulnerable to ongoing market pressures.
