Why XRP Price Is Down Today Despite Proshares ETF Launch ?

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XRP price today’s recent slip below the critical $3 level has reignited heated discussions across the crypto community. Despite rallying over 27% in the past week and briefly reclaiming the $3 mark on July 14, the token has pulled back to around $2.86, sparking fresh speculation about market manipulation and whale behavior.

Also Read : Ripple Price Prediction As as ProShares XRP ETF Launches on July 18

XRP Price Slips Despite Strong Weekly Rally

XRP Price surged nearly 30% last week but faced strong resistance between $3.00–$3.02. The failed breakout triggered widespread profit-taking, cooling momentum as spot trading volume and open interest surged to a six-month high.

• Current Price: ~$2.86
  
• Weekly Gain: +27%
  
• Resistance Zone: $3.00–$3.02
  
• Support Levels: $2.60–$2.80

Despite the pullback, some analysts remain bullish. Peter Brandt forecasts a 60% rally toward $4.47, while Ali Martinez suggests that a weekly close above $3 could trigger a breakout toward $4.80+.

Is XRP Being Suppressed? The Theory Resurfaces

Versan Aljarrah, co-founder of Black Swan Capitalist, believes the XRP price is being deliberately suppressed by large institutions, he claimed:

“XRP can’t even stay above $3 because it threatens everything.”

According to Aljarrah, XRP’s unique real-world utility—especially its ability to enable instant cross-border payments—poses a serious threat to traditional financial systems. He implies that maintaining the status quo benefits entities invested in slow, high-fee global payments, and therefore suppressing XRP becomes strategic.

This suppression theory is not new. Many XRP holders have long pointed to:

• Ripple’s monthly escrow unlocks
  
• Algorithmic trading patterns
  
• Ongoing regulatory scrutiny

as tactics that limit the token’s price discovery.

On-Chain Data Shows Whale Confidence Growing

Despite the pullback, on-chain metrics point to increasing confidence among large holders.

• Whale wallets (holding over 1 million XRP) have surged to 2,743+
  
• These wallets collectively control over 47 billion XRP
  
• Data shows steady accumulation during dips, hinting at strong long-term belief in XRP’s fundamentals.

This increase in whale activity suggests that major investors are positioning themselves for a potential long-term breakout.

Volatility Spikes: What’s Next for XRP?

XRP’s implied volatility has surged to 96%, suggesting a potential 13% price swing in either direction this week. While price action remains choppy, the setup looks promising if XRP can break through resistance with volume.

Key Scenarios to Watch:

The XRP community is split. Some see this dip as strategic suppression, while others argue it’s just profit-taking and resistance testing. With Crypto Week underway and macro factors in play, the stage is set for a decisive move.

Until XRP clears the $3 level with conviction, expect heightened volatility and mixed sentiment. But if volume confirms a breakout, XRP could aim for $4–$6 in the near term, potentially even higher if whale accumulation continues and market sentiment improves.

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