XRP News Today: XRP drops below 50-day SMA amid $312M liquidations and macro uncertainty; SBI MOU on RLUSD could support demand

Generated by AI AgentCoin World
Saturday, Aug 23, 2025 9:21 pm ET1min read
ETH
--
XRP
--
Aime RobotAime Summary

- XRP fell below its 50-day SMA at $2.99 for three days, hitting $2.78 amid broad selling and macroeconomic uncertainty.

- Oversold conditions (RSI <30) suggest short-term rebound potential, but bearish bias persists due to $312M in liquidations and risk-off sentiment.

- Ripple signed an MOU with SBI VC Trade to distribute RLUSD in Japan, aiming to boost stablecoin adoption on XRP Ledger and Ethereum.

- Traders monitor $2.78 support and $2.99 resistance, with a $3.20 breakout signaling bullish momentum or further weakness below current levels.

- The RLUSD partnership provides a potential on-chain use case for XRP, offering fundamental support amid technical and macroeconomic uncertainties.

XRP has fallen below its 50-day simple moving average (SMA) of $2.99 for three consecutive sessions, trading as low as $2.78, amid broad-based selling pressure and macroeconomic uncertainty [1]. The recent price movement has pushed the token into oversold territory, as indicated by the relative strength index (RSI), which dipped below 30 on the hourly chart [1]. This level is widely regarded as a threshold for potential short-term corrections, suggesting that

XRP
could experience a relief rally if buyers step in [1]. However, the bearish bias remains intact due to ongoing liquidations and risk-off sentiment in the broader cryptocurrency market [1].

The decline in XRP has been attributed to a combination of factors, including macroeconomic uncertainty ahead of the Federal Reserve’s Jackson Hole symposium, persistent selling pressure, and deteriorating technical momentum [1]. According to CoinGlass data, over $312 million in crypto positions were liquidated during this period, amplifying the downward trend [1]. Traders are now watching for a retest of the $2.78 level as immediate support and the 50-day SMA at $2.99 as a near-term resistance [1]. A breakout above $3.20 would signal stronger bullish momentum, while a breakdown below the current low could lead to further weakness [1].

In a key development for Ripple’s stablecoin strategy, the company signed a Memorandum of Understanding (MOU) with SBI VC Trade to distribute RLUSD in Japan [1]. The partnership aims to enhance RLUSD’s accessibility in one of the largest fiat markets and could support long-term adoption across the XRP Ledger and

Ethereum
[1]. This institutional collaboration signals Ripple’s commitment to expanding its stablecoin offerings and may act as a fundamental catalyst for XRP in the medium to long term [1].

While the technical outlook for XRP is mixed, the RLUSD partnership introduces a potential on-chain and on-demand use case for XRP, which could provide a floor for the asset in the event of further price weakness [1]. Market participants are advised to monitor both technical levels and macroeconomic developments, particularly as liquidity flows and policy expectations remain key drivers of crypto market behavior [1].

Source:

[1] XRP May Be Oversold After Falling Below 50-Day SMA; SBI MOU on RLUSD Could Support Demand, https://en.coinotag.com/xrp-may-be-oversold-after-falling-below-50-day-sma-sbi-mou-on-rlusd-could-support-demand/