XRP News Today: XRP drops below $3 as bearish momentum intensifies with 13.6% loss since early August

XRP has fallen back below the $3 psychological level, intensifying bearish pressure in the cryptocurrency market. The token has lost 13.6% since early August, echoing Bitcoin’s sharp decline from $119,800. The breakdown of $3—previously a key resistance and support level—has shifted sentiment, with sellers dominating the price action [1].

Technical indicators suggest a continuation of the bearish trend. The Accumulation/Distribution line is declining, the Awesome Oscillator reflects strong bearish momentum, and the Directional Movement Index shows both -DI and ADX above 20, confirming a downtrend [1]. On the 12-hour chart, a meaningful price rebound appears unlikely in the near term, as selling pressure remains significant.

However, the $2.6 level is emerging as a key area of interest. This price coincides with a Fair Value Gap and former range highs on the 1-day chart, offering a potential short-term floor [1]. Analysts are watching this level closely, with some suggesting it could provide a buying opportunity for investors with a long-term outlook [2]. While a deeper decline is not ruled out, the worst of the selling may be subsiding, as exchange net position changes have stabilized and inflows have eased [1].

Valuation metrics also indicate XRP is not yet overextended. The MVRV Z-Score remains well below historical peaks, suggesting that the token still has room to appreciate if the broader market stabilizes [1]. A sustained recovery would likely require a firm break above $2.84, a level that has remained intact so far [3]. Until then, XRP remains at risk of further downward movement, with key technical levels and market sentiment determining the next major price direction.

Source:

[1] Below $3 again, XRP faces heavy pressure – But THIS ... (https://ambcrypto.com/below-3-again-xrp-faces-heavy-pressure-but-this-level-can-flip-the-trend/)

[2] XRP News Today: XRP Price Turns Bearish After $3.60 ... (https://www.ainvest.com/news/xrp-news-today-xrp-price-turns-bearish-3-60-high-hints-short-term-recovery-2508/)

[3] BTC And ETH Looking Bearish Heading Into August, XRP ... (https://www.xt.com/en/blog/post/btc-and-eth-looking-bearish-heading-into-august-xrp-sees-huge-selloff-best-crypto-to-buy-now)