XRP News Today: XRP Drops 13% Amid 460M Token Sell-Off and Key Support Test at $2.85

Ripple’s XRP is currently under pressure as traders and analysts closely watch whether the token can hold above the critical support level of $2.85. A recent sell-off involving 460 million tokens has led to a 13% price decline over roughly a week, pushing the price down to $2.90 as of the latest update [1]. The sell-off has shifted the short-term price forecast for XRP from bullish to cautious, with analysts now highlighting potential downside risks [1].

The immediate focus is on whether XRP can stabilize above $2.85, as a breakdown below this level could trigger a further drop to $2.74, with $2.63 seen as the next major support level [1]. Technical indicators show signs of bearish momentum, with the Relative Strength Index (RSI) dipping to 35, nearing oversold territory. Additionally, candlestick patterns such as “three black crows” reinforce a bearish bias [1]. While short-term bounces are possible, the overall sentiment remains defensive until XRP can reclaim key resistance levels above $3.00.

The broader macroeconomic environment also plays a crucial role in XRP’s near-term outlook. Traders are watching for signals from Fed Chair Jerome Powell’s speech on August 22, 2025, which could influence risk appetite and liquidity in the crypto market [1]. A hawkish stance from the Federal Reserve could pressure XRP further, especially against the stronger U.S. dollar. On the other hand, if Powell signals rate cuts, it may provide relief for crypto assets [1].

Some analysts have pointed to a potential 37% rally to $4.00 if XRP can hold above $2.85 and retest the $3.00–$3.15 resistance band [6]. However, caution remains warranted due to repeated failed attempts to break above $3.00 in recent sessions. A successful breakout and sustained close above this level would be necessary to confirm a broader bullish trend [8].

In summary, XRP’s price is in a delicate phase. Bulls must demonstrate strength above $2.85 to prevent a deeper correction, while bears remain ready to push the price lower if support fails. The coming days, especially as Powell’s remarks approach, will likely determine whether XRP enters a new accumulation phase or faces further downside [1][8].

Sources:

[1] [XRP Price Prediction: Can Ripple hold above $2.85 today?](https://crypto.news/xrp-price-prediction-can-ripple-hold-above-2-85-today/)

[6] [Hidden Signal Could Trigger Explosive 37% Rally to $4.00](https://thetradable.com/crypto/xrp-price-prediction-shock-hidden-signal-could-trigger-explosive-37-rally-to-400-ig--a)

[8] [XRP Price Prediction for Today, August 20](https://captainaltcoin.com/xrp-price-prediction-for-today-august-20/)