XRP Drops Below $3.20: Are Sellers On Korean Exchanges The Reason?

XRP's (CRYPTO: XRP) recent slide is being linked to intense selling pressure from Korean crypto exchange Upbit, but sentiment among top analysts remains surprisingly bullish.

Trader Notes: Crypto chart analyst Ali Martinez issued a straightforward signal based on the TD Sequential Indicator: "Buy XRP."

CrediBULL Crypto outlined that XRP has completed a triple tap setup, reached its range highs, and is now retesting those levels.

Notably, the D3 supply zone has flipped into support, and the dip is viewed as a healthy correction, not a bearish reversal.

Blockchainedbb echoed similar views, stating that the drop fits into XRP's broader bullish market structure, and has even marked the buy zone for the next leg up.

Statistics: Despite the price drop, XRP open interest continues to stay near all-time highs at $9.4 billion.

Derivatives trading volume expanded by 158.1% in a single day.

XRP options market is steaming with 122.3% spike in options volume and 14% growth in options open interest.

According to data analyst Dom, Upbit’s aggressive 75 million XRP liquidation overwhelmed buyer demand on thin order books, triggering the sharp move down.

His Cumulative Volume Delta (CVD) analysis and heatmaps show sell-side dominance, with orderbook pressure far exceeding bids.

Dom noted some support around the $3 region, which he views as a key level to maintain short-term bullish momentum.

Community News: In a notable development, Nature's Miracle Holding launched a $20 million XRP treasury program, becoming one of the first publicly listed firms to adopt XRP as part of its corporate reserves.

"We see the huge potential of XRP as it improves the speed and reduce the cost of cross-border payments," said CEO James Li.

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