XRP News Today: XRP Falls 3 in Recent Sessions Extending Monthly Drop to 8 Amid Crypto Weakness

XRP has fallen another 3% in recent trading sessions, extending its monthly decline to 8%, amid broader crypto market weakness. Despite the downward move, traders and analysts remain cautiously optimistic, with many eyeing a potential breakout to the $3.70 level. Technical indicators suggest the asset is consolidating, and a sustained close above $3.70 could trigger renewed buying interest from both retail and institutional investors [1].

The recent dip in XRP comes as Bitcoin and Ethereum also struggle, with the latter up slightly over the week despite a broader bearish trend. XRP’s price currently stands at $2.96, with a 7-day decline of 3.6%. Meanwhile, derivatives activity shows increased short-term trading interest, as Coinglass data reveals a 115.8% surge in XRP derivatives volume in one day, though open interest fell by 1.4% [1].

Crypto chart analyst Ali Martinez has highlighted the $3.70 level as a key target, predicting that XRP could reclaim it in the near term [1]. CrediBULL Crypto also sees potential for a move into the $3.60–$4.00 range, contingent on Bitcoin’s performance. Traders are reportedly holding long positions with plans to take profits should the asset reach those levels. The current market environment is being closely monitored for signs of a broader risk-on shift, particularly as U.S. Federal Reserve policy continues to influence global capital flows [1].

On the fundamental side, XRP recently received a boost from Gemini’s announcement of the "Gemini Credit Card, XRP edition," which offers cashback in XRP for purchases, including 4% on gas, charging, and rideshares [1]. This limited-edition card is available only in the U.S. and is part of a broader push to increase XRP’s real-world utility. Ripple also announced expanded support for RLUSD in U.S. spot trading, with no additional conversion fees [1].

While short-term volatility remains, many in the market see the current pullback as a potential buying opportunity. If the price can stabilize above key support levels and break out to the upside, it could signal a shift in sentiment. Conversely, a breakdown below the $2.50–$2.70 range could extend the correction, testing the asset’s resilience [1].

The broader macroeconomic landscape will play a critical role in shaping XRP’s near-term trajectory. Futures markets currently price in an 84% chance of a 25-basis-point rate cut at the Fed’s September meeting, and a second cut in October is seen as a 53% probability [1]. If realized, these cuts could encourage capital reallocation into risk assets, including crypto, potentially supporting a recovery in XRP’s price.

Sources:

[1] Benzinga, [https://www.benzinga.com/crypto/cryptocurrency/25/08/47316792/xrp-down-another-3-but-traders-eye-a-breakout-to-3-70](https://www.benzinga.com/crypto/cryptocurrency/25/08/47316792/xrp-down-another-3-but-traders-eye-a-breakout-to-3-70)