Immy Dorse 
Is Upbit Driving XRP’s Price Swings?
XRP’s wild ride over the past few weeks has left traders scratching their heads. After surging to a yearly high of $3.66 in mid-July, the price tumbled, only to claw its way back above $3. But here’s the thing—market expert Dom thinks South Korean traders on Upbit might be pulling more strings than anyone realized.
The July rally, which saw XRP jump 64% in just over two weeks, wasn’t just broad market optimism. Upbit traders piled in, pushing the price up. Then, just as quickly, they started selling. By early August, XRP had dropped to $2.73. But when the selling on Upbit slowed, the price found a floor—even as Binance kept dumping XRP. It’s odd, but Dom’s theory seems to hold water.
The Coinbase Factor
There’s another layer to this. Dom pointed out something interesting on Coinbase: a steady accumulation of nearly 15 million XRP. That could mean big players are using a Time-Weighted Average Price (TWAP) strategy—basically buying in chunks to avoid spooking the market. If that’s the case, it might explain why XRP’s recovery has been slow but steady.
But let’s be honest, none of this is certain. Crypto moves in mysterious ways, and what looks like a pattern one day can vanish the next. Still, the correlation between Upbit’s activity and XRP’s price is hard to ignore.
XRP’s Rocky Relationship With Oil and the Dollar
Dom didn’t stop there. He’s been tracking XRP against crude oil (USOIL) and the USD, and the charts tell a messy story. On July 30, XRP broke out of a seven-month range against USOIL—only to stall. By August 1, it had slipped back to retest old support levels. Dom called this a make-or-break moment. If XRP fell back into that range for good, the bullish setup would be in trouble.
As of August 4, things were still up in the air. XRP had dipped back into the range briefly, but Dom called it a “weak fakeout,” not a full breakdown. The next few days? Critical. If XRP can’t hold its ground, the short-term outlook turns grim.
Against the USD, the story’s similar. XRP bounced from a key support zone, but Dom warned it needs to climb higher to stay safe. Right now, it’s hovering around $3.05—teetering. His take? If it can reclaim $3.12, the downtrend breaks, and the bulls might finally have something to work with.
But that’s a big “if.” Crypto’s never straightforward, and XRP’s no exception. For now, all eyes are on Upbit, Coinbase, and whether $3 holds. One thing’s clear: the market’s waiting for the next move.
