Analyst Uncovers Who Might Be Controlling XRP Price More Than We Think

According to market expert Dom, South Korean traders on Upbit might be determining $XRP price movements more than we think.

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 Upbit traders contributing massively to it. However, the momentum quickly faded.

Specifically, $XRP price dropped along with the rest of the crypto market. By August 2, $XRP had fallen to $2.73. Nonetheless, since then, it has bounced back above $3. While it still trades 18% below its July 18 peak, $XRP has held on to the $3 level, with investors now watching closely for fresh buying interest that could trigger the next leg up.

Dom suggested that Upbit’s selling spree played a major role in the market drop and argued that the Korean exchange might be controlling $XRP price direction more than many realize.

Korean market Upbit may actually "control" the price of $XRP more than we think

Right when they stopped their selling pressure, we bottomed, DESPITE Binance continuing it's selling

We've slowly staircased up since, with a potential TWAP happening on Coinbase (nearly 15M $XRP… pic.twitter.com/3OwQiEcjdx

— Dom (@traderview2) August 4, 2025

Notably, the same group of Upbit traders also helped fuel $XRP’s sharp rally weeks earlier. However, this time, their aggressive selling is contributing to the decline. Interestingly, as soon as they slowed down their selling, $XRP found a bottom and began to recover, even while Binance traders continued to offload $XRP.

Dom noted a gradual accumulation of nearly 15 million $XRP on Coinbase, which he believes could point to a potential Time-Weighted Average Price (TWAP) strategy. This accumulation coincided with $XRP’s slow but steady climb from the lows.

$XRP Price Action Against USOIL and USD

Meanwhile, Dom also tracked $XRP’s performance on the USD and crude oil (USOIL) charts. On the USOIL chart, he noted on July 30 that $XRP had broken out of a seven-month price range but saw little follow-through.

The analyst predicted a possible retest of previous support levels, and by August 1, this projection materialized. Dom noted that this retest was actually important and explained that a full return into the old range would damage the bullish setup.

However, in an August 4 update, he expressed caution. According to him, $XRP briefly dipped back into the range, but he described it as a weak fakeout, not a full rejection of the breakout. He said the next few days would be crucial. Specifically, if $XRP falls again and settles back inside that long-standing range, short-term prospects could turn bearish.

Meanwhile, on the USD chart, he shared a similar warning on August 2. However, two days later, he highlighted a bounce from the expected support zone. Still, he made it clear that $XRP needs to push higher to regain a safe position.

$XRP update

Bounce came in at the expected zone, which is good to see

I think this still needs higher to reclaim a safe area

We want to see $3 turn back into a floor. Then any acceptance above $3.12 will break the downtrend and put the chart back in a constructive state pic.twitter.com/GGI0cq1xIM

— Dom (@traderview2) August 4, 2025

Dom believes the $3 level must turn into a solid support again. At press time, $XRP changes hands at $3.05, struggling to maintain the $3 mark. The analyst suggested that a move above $3.12 would break the current downtrend and put $XRP back into a bullish setup.