XRP News Today: XRP Traders Split as Price Hovers Near $3.00 Resistance Amid Regulatory Delays and Whale Selling

XRP remains in a holding pattern near the $3.00 resistance level, with traders divided on whether the current consolidation signals a short-term pullback or the start of a broader downtrend. As of August 19, the token traded at approximately $2.99, reflecting a modest 1.16% gain in the previous 24 hours despite the broader bearish pressure [1]. Trading volume has increased by more than 10%, reaching $6.76 billion, suggesting heightened investor attention and a mix of cautious optimism and bearish positioning [1].

The recent bearish momentum became more apparent on August 9, when XRP dipped below the $3.05 resistance level and struggled to reclaim the $3.00 threshold. This move raised concerns that further downward pressure could follow, especially if the $2.90 support level is breached [2]. On August 12, the token dropped by 6%, pushing it closer to the $2.95–$3.00 range. Over the following ten days, holders of 10–100 million XRP sold around 470 million tokens, contributing to the downward trend [3].

Analysts have identified several factors behind the selloff. A key development was the U.S. Securities and Exchange Commission’s (SEC) decision to delay several ETF applications, including Nasdaq’s CoinShares filing, until October. This delay has dampened institutional confidence and prompted a more cautious approach among major investors [3]. Additionally, a recent security audit ranked the XRP Ledger at the bottom of 15 major blockchains in terms of security, which has rekindled skepticism among potential institutional adopters [3].

Despite these challenges, long-term optimism lingers. More than 93% of XRP’s circulating supply remains in a profitable range, a figure that has stayed above 90% since mid-July. However, this prolonged profitability has also led to profit-taking, particularly among large holders, contributing to the mixed sentiment in the market [3]. Retail investors have shown signs of panic, while whales continue to accumulate and selectively offload tokens, further complicating the short-term outlook.

Market data highlights a divided sentiment. Derivatives volume increased by 6.25% to $9.21 billion, indicating ongoing speculative interest, but open interest fell by 3.72% to $7.57 billion, suggesting a more conservative stance from traders [3]. Options volume declined by approximately 7%, while open interest surged by over 56%, highlighting a selective approach to positioning. On major exchanges, the long-to-short ratio remains bullish, with Binance reporting a ratio of 3.45 and OKX at 2.61. However, the overall 24-hour aggregate ratio remains just below 1.0, signaling fragile optimism [3].

Technically, XRP is facing significant resistance at $3.00 and a critical support level at $2.70. A successful retest of $2.70 could lead to a 10% rebound back toward $3.00, but a breakdown below this level would likely result in further declines, potentially undoing much of July’s gains [3]. Momentum indicators, including the MACD, show bearish crossovers, reinforcing the downward trend [3].

The broader market has also experienced heightened volatility. On August 7, XRPUSDT fell by 6.5% in 24 hours, with a bearish engulfing pattern forming during a key session. The price dropped from $2.958 to $2.8948, reflecting deep uncertainty among traders [4].

While some analysts believe XRP could still challenge larger cryptocurrencies like Ethereum by functioning as a bridge currency and reducing transaction costs, this view remains speculative and has yet to translate into bullish price action [5]. For now, XRP is caught between bearish sellers and cautious bulls, with key levels under pressure and shifting regulatory and market dynamics shaping the near-term outlook. Traders will be closely watching for signs of a breakout or breakdown in the coming days.

Source:

[1] XRP Faces Pressure Near Resistance With Traders Divided on Next Move XRP (https://blockonomi.com/xrp-faces-pressure-near-resistance-with-traders-divided-on-next-move-xrp/)

[2] XRP Price Crashes Below $3, More Pain for Bulls? (https://www.mitrade.com/insights/crypto-analysis/xrp/newsbtc-XRPUSD-202508201447)

[3] XRP Price Falls as Whales Sell 470 Million Tokens (https://www.coingabbar.com/en/price-prediction/xrp-price-falls-whales-sell-470-million?srsltid=AfmBOoqiIWR5S7G3VLnoGTrvQIstwbvdJQk2ccDeFLA5s52gysCzMz1x)

[4] XRPUSDT — 24-Hour Price Dips Amid High Volatility and ... (https://www.ainvest.com/news/market-overview-xrpusdt-24-hour-price-dips-high-volatility-bearish-momentum-2508/)

[5] 1 Top Cryptocurrency That Can Overtake Ethereum by ... (https://www.nasdaq.com/articles/1-top-cryptocurrency-can-overtake-ethereum-2028-according-standard-chartered-analyst-0)