2 hours ago
XRP extended losses successful the past 24 hours, slipping nether the $3.00 people aft a crisp rejection astatine resistance. A operation of blockchain information concerns and delayed regulatory decisions drove dense selling and profit-taking crossed organization desks.
News Background
• A information audit ranked XRP Ledger lowest among 15 blockchains, eroding capitalist confidence.
• The SEC delayed rulings connected aggregate XRP ETF applications, including Nasdaq’s CoinShares filing, until October.
• Heightened regulatory ambiguity and information doubts fueled portfolio adjustments astatine large trading firms.
Price Action Summary
• XRP fell 4% from $3.02 to $2.90 betwixt August 19 astatine 06:00 and August 20 astatine 05:00.
• The steepest driblet came from 13:00–15:00 connected August 19, erstwhile terms collapsed from $3.04 to $2.93.
• Volume spiked to 137.18 cardinal successful the 14:00 hour, astir treble the regular mean of 71.23 million.
• Buyers defended $2.85–$2.88 aggregate times overnight.
• Price stabilized adjacent $2.89–$2.90 successful the last hour, showing equilibrium conscionable nether $3.00.
Technical Analysis
• Resistance confirmed astatine $3.04 with volume-driven rejection.
• Support portion established astatine $2.85–$2.88 done repeated defenses.
• Consolidation astatine $2.89–$2.90 signals exhaustion of contiguous selling pressure.
• Volume surge highlights organization repositioning.
What Traders Are Watching
• Whether $3.00 flips backmost into enactment oregon remains a rejection barrier.
• Institutional flows astatine $2.85–$2.90 to find if the level forms a base.
• SEC rulings successful October arsenic medium-term volatility drivers.
• Impact of information rankings connected ETF support prospects.
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