XRP News Today: XRP Stabilizes Near $2.97 After 6.27% Weekly Drop Amid Crypto Turbulence

XRP is stabilizing near $2.97 following a 6.27% weekly decline amid widespread crypto market turbulence. The broader digital asset space experienced over $900 million in liquidations in the past week, significantly impacting major cryptocurrencies like Bitcoin and Ethereum [1]. Despite this, XRP managed to rebound from a low of $2.89 to hold firm above $2.94, aided by active dip buyers and improved sentiment in the short term [2].

Analysts are closely monitoring key support levels for XRP. A critical range between $2.55 and $2.40 has been identified as a potential buffer against further downward pressure [3]. Early Saturday trading showed the token maintaining a position above $2.94, with intraday highs reaching $3.01. Resistance levels are expected between $3.02 and $3.05, with a potential path to retest $3.33 and $3.65 if buying pressure intensifies [4].

Network activity remains a positive sign for XRP’s long-term trajectory. The XRP Ledger has grown to over 7 million total accounts, with more than 1 million new users joining in 2025. Daily signups have occasionally exceeded 20,000, averaging around 3,000 per day [5]. This sustained growth indicates rising adoption, which could support price stability even in a bearish environment.

Institutional interest in XRP is also on the rise. Maxwell Stein, Director of Digital Assets at BlackRock, confirmed his attendance at Ripple’s Swell 2025 conference, signaling continued engagement from major financial players [6]. This institutional involvement reflects growing confidence in XRP’s ecosystem and may contribute to increased investment and price recovery.

XRP’s price drop of 6.27% last week was influenced by broader macroeconomic uncertainty and crypto market liquidations. However, the token’s ability to stabilize near $2.97 suggests underlying strength supported by network growth and dip buying activity [7]. Investors are advised to monitor support and resistance levels closely, along with on-chain metrics, to assess potential future price movements.

Source: [1] XRP Nears $3 Amid Market Volatility, Support Levels and Institutional Interest Under Review August 5, 2025 (https://en.coinotag.com/xrp-nears-3-amid-market-volatility-support-levels-and-institutional-interest-under-review/)