Ripple (XRP) price has seen some volatility in recent weeks that can be easily dismissed as part of the general market sentiment. However, an analyst is pointing to some metrics that people might not be paying enough attention to.
According to a recent report by TheCryptoBasic, crypto expert Dom (@traderview2) has uncovered surprising data showing how activity on one exchange, Upbit, a South Korean platform, may be driving major moves in XRP’s price.
Dom explained that South Korean traders might have more influence over XRP than most people think. He pointed to a key moment in late July when XRP hit a new yearly high of $3.66 on July 18, following a 64% rally over just a couple of weeks. While many attributed the rise to a broader crypto rebound, Dom believes much of the momentum came from buying pressure on Upbit.
But the rally didn’t last. By August 2, XRP had dropped to $2.73, falling alongside the rest of the market. Dom argued that this pullback wasn’t just a response to general conditions. According to data he shared with TheCryptoBasic, traders on Upbit had sold a net 40 million XRP within 24 hours, which was more than all other exchanges combined over the same period. That massive sell-off appears to have played a direct role in the price decline.
According to market expert Dom, South Korean traders on Upbit might be determining XRP price movements more than we think.
— TheCryptoBasic (@thecryptobasic) August 5, 2025
Notably, XRP reached a new yearly high of $3.66 on July 18 after rallying 64% in just over two weeks. The surge reflected a broader market recovery, with…
Dom also highlighted how quickly things shifted once that selling slowed down. Even though platforms like Binance were still seeing XRP outflows, the price found a bottom and began to climb again. At the same time, he noticed something else happening. Around 15 million XRP were being quietly accumulated on Coinbase, possibly as part of a TWAP (Time Weighted Average Price) strategy. This kind of slow and steady buying by larger players could help explain XRP’s gradual recovery back above $3.
Chart Patterns Offer Caution Despite the Recent Bounce
While tracking XRP across various trading pairs, Dom also looked at how it was performing against crude oil and USD charts. In his July 30 update shared via TheCryptoBasic, Dom observed that XRP had broken out of a range it had been stuck in for seven months. That kind of move usually signals a bullish setup, but this one showed little follow through.
By August 1, Dom’s prediction of a possible retest came true. XRP dropped back to previous support levels, leading some traders to worry that the breakout had failed. Dom, however, described the move as a weak fakeout rather than a complete reversal. In an August 4 follow up covered by TheCryptoBasic, he explained that if XRP falls back and remains inside that old trading range, it could weaken the bullish structure. But for now, he still saw potential as long as XRP can stay above key levels.
A similar story played out on the USD chart. Dom issued a warning on August 2 after XRP failed to build momentum. But just two days later, he pointed to a bounce from support and noted that the $3 mark would now be a crucial area. In his view, if XRP can turn $3 into solid support, the token has a better chance of regaining strength. Otherwise, the risk of sliding back into a short term bearish trend remains.
All Eyes on $3 and $3.12 as Key Price Levels
At the time of writing, XRP is trading at around $3.05, still hovering around that critical $3 zone. While the bounce from recent lows is encouraging, Dom believes it is too early to call a full recovery.
According to his analysis shared with TheCryptoBasic, the next test lies at $3.12. A clear break above that level would invalidate the current downtrend and suggest that bulls are gaining the upper hand again.
Read Also: Shiba Inu Falls Out of Top 20: Here’s What’s Behind the Drop
More importantly, Dom emphasized that traders need to look beyond just price charts. The sudden influence of Korean traders on Upbit shows how much one region’s behavior can move the market.
While most investors focus on large platforms like Binance and Coinbase, this episode reveals that a single group of highly active traders can dominate price movements both up and down.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
