XRP is experiencing a correction after reaching a yearly high of $3.65 on July 18, now down nearly 19%. The altcoin faces strong resistance at the $3.10-$3.00 range, with critical support at $2.65. Notably, since July 9, over 640 million XRP tokens have been offloaded by whales, indicating selling pressure contributing to the price decline. If XRP falls below $2.65, a significant support level that also aligns with the quarterly VWAP, it could trigger a full pump retrace, bringing prices back towards $2. This level previously acted as a resistance before July. Analysts suggest that the retention of this support is crucial for maintaining a bullish trend. If it holds, XRP could aim for new highs, targeting $4.15 based on historical patterns. Conversely, breaching $2.65 would likely lead to a correction back into the previous trading range, negating the gains made during the Q3 rally and signaling potential weakness.

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