XRP News Today: XRP Falls Below $3 as Crypto Market Weakness Intensifies Sell-Off Pressure

Ripple’s XRP has seen a sharp correction after breaking below the $3 level, sparking concerns among investors about its short-term stability. The token, which had surged past $3.40 in early July, is now trading near $2.81, with key support levels in focus as the market assesses whether a deeper sell-off is imminent [3]. The drop has coincided with broader weakness in the crypto market, amplifying fears of a systemic selloff.

Technical indicators reinforce the bearish trend. The RSI has retreated from overbought territory, settling at 43.35, while a bearish crossover between the RSI and its moving average suggests continued downward momentum. The MACD line has also crossed below the signal line, with a negative histogram of −0.0879 further underlining the bearish bias [3]. The price is currently consolidating near $2.81, with support levels at $2.70–$2.87 seen as crucial for stabilizing the short-term trend [3]. A breakdown below that range would likely push XRP toward the $2.40–$2.60 area, where renewed buying interest could emerge if the price holds [3].

The $3 level’s loss has raised concerns about a potential breakdown to the $2.65–$2.70 support range. If this level fails, a deeper correction toward $2.00–$2.20, and ultimately the historical demand zone of $1.82–$1.57, becomes a real possibility. Analysts emphasize that maintaining support above $2.60 is essential to preserving a bullish structure, while a breach could lead to a prolonged bearish phase [3].

The broader market context also points to growing fragility. On August 1, the crypto market experienced over $754 million in liquidations as falling prices triggered margin calls and leveraged positions were closed. Ethereum saw a taker sell volume of $335 million within two minutes, signaling panic or aggressive profit-taking [9]. The Bitcoin Advanced Sentiment Index has also turned bearish, reflecting a shift in investor sentiment toward caution [9].

Adding to the uncertainty is a $246 million XRP transfer by Kraken. While no direct link has been established between the transfer and the price decline, the timing has fueled speculation about market manipulation or large-scale profit-taking [2]. The selloff in XRP is being viewed as part of a broader trend, with Ethereum and Bitcoin also exhibiting weakness. XRP’s higher volatility makes it particularly sensitive to systemic pressures [1].

Despite the bearish signals, some analysts remain cautiously optimistic. A stabilization above $2.70 could provide a foundation for a recovery, but without strong buying momentum, the token may continue drifting lower before testing major support zones again [3]. Cloud mining platforms have introduced new strategies to capitalize on the downturn, but these remain speculative and have yet to influence price action meaningfully [1].

The current scenario underscores the importance of closely monitoring key support levels as both a defensive and predictive measure. Investors are advised to remain cautious and observe how the price behaves around these thresholds as the market continues to navigate uncertain conditions.

Source:

[1] Bitcoin News Today: XRP Dips Below $3 as Downward

(https://www.ainvest.com/news/bitcoin-news-today-xrp-dips-3-downward-momentum-gains-strength-ethereum-falls-10-key-support-tests-3-480-bitcoin-slides-7-120-000-resistance-fades-2508/)

[2] XRP Price Prediction: Ripple Price Bounce at $3 Support

(https://bravenewcoin.com/insights/xrp-price-prediction-ripple-price-bounce-at-3-support-gains-traction-as-kraken-moves-82-million-xrp-to-mysterious-wallet)

[3] Crypto darling XRP under pressure, price dips below $3

(https://m.economictimes.com/news/international/us/crypto-darling-xrp-under-pressure-price-dips-below-3-whats-causing-the-drop-is-a-massive-selloff-coming/articleshow/123042471.cms)

[9] Bitcoin Advanced Sentiment Index Reaches Bearish Levels

(https://www.mitrade.com/au/insights/news/live-news/article-3-1006319-20250802)