XRP News Today: XRP Falls Below $3 Amid Broader Crypto Market Downturn

XRP has continued its downward trajectory amid a broader cryptocurrency market downturn, with the token recently falling below $3 for the second time in the past month. The decline has occurred despite Ripple’s recent $75 million credit facility with Gemini, aimed at supporting the exchange’s financial stability and potentially boosting adoption of Ripple’s RLUSD stablecoin [2]. XRP is currently trading at $2.89 and has lost nearly 10% of its value over the past seven days, underperforming even top-tier assets like Bitcoin and Ether [1].

Technical indicators suggest that selling pressure remains dominant in the XRP market. The Relative Strength Index (RSI) has dropped to 36, indicating that the token is nearing oversold territory, while the Moving Average Convergence Divergence (MACD) has remained in bearish territory since August 13 [2]. These signs reinforce the likelihood that XRP could retest the $2.72 support level in the coming hours. If this level fails, the next key area of interest is the $2.34 flip zone, where the market could face further downward pressure [1].

The broader crypto market has also experienced significant losses, with Bitcoin declining by 5% and Ether by 10% in the same period [2]. The combined market capitalization has shed over $400 billion in the last week, despite growing institutional adoption in the sector [1]. XRP’s struggles reflect the overall bearish sentiment, as buyers have been unable to mount a meaningful recovery despite recent developments involving Ripple’s financial infrastructure.

While analysts acknowledge that XRP could stage a recovery in the short term, the path to $3.10 appears challenging given the current market dynamics. A sustained rebound would require a shift in momentum and a reversal of the broader sell-off affecting major crypto assets. If XRP manages to reclaim the $3.40 resistance level, it could look to challenge its recent high of $3.66. However, such a scenario remains contingent on broader market conditions and the absence of further negative macroeconomic signals [2].

The market outlook remains cautious ahead of Federal Reserve Chair Jerome Powell’s upcoming speech, which could influence investor sentiment across global asset classes, including cryptocurrencies [1]. Until clearer signs of bullish momentum emerge, traders are advised to maintain a defensive stance, especially around key support levels like $2.72.

Sources:

[1] "XRP could retest $2.72 as market bleeds; Check forecast" (https://invezz.com/news/2025/08/20/xrp-could-retest-2-72-as-market-bleeds-check-forecast/)

[2] "XRP could retest lower support zones as market bleeds: check forecast" (https://www.bitcoininsider.org/article/283296/xrp-could-retest-lower-support-zones-market-bleeds-check-forecast)