XRP Tests $2.90 Support Zone on Back of ETF Postponements, Regulatory Pressure

XRP Slides to $2.90 as SEC ETF Delays and Blockchain Security Concerns Trigger Sell-Off

XRP extended its decline below $3 on Monday as regulatory delays and security-related concerns drove heavy selling across institutional desks. The U.S. Securities and Exchange Commission (SEC) postponed decisions on several XRP ETF applications—including Nasdaq’s submission with CoinShares—pushing final rulings out to October.

The sell-off was compounded by a recent blockchain audit that ranked XRP Ledger last among 15 major networks for security, raising fresh doubts among investors and potentially clouding ETF approval prospects.

Price Action and Volume

  • XRP dropped 4% over 24 hours, falling from $3.02 to $2.90.
  • The sharpest decline came between 13:00 and 15:00 UTC on Aug. 19, as price plunged from $3.04 to $2.93.
  • Trading volume surged during this period, reaching 137.18 million—nearly twice the daily average of 71.23 million.
  • Buyers defended the $2.85–$2.88 zone repeatedly overnight, with prices stabilizing near $2.90 into the new session.

Technical Picture

  • A clear rejection at $3.04 confirms near-term resistance.
  • Support is firming at $2.85–$2.88 amid heavy volume and multiple defenses.
  • Consolidation near $2.89–$2.90 suggests selling pressure may be cooling, but uncertainty lingers.

What’s Driving Sentiment

  • Regulatory Delay: SEC postponement of XRP ETF rulings has injected uncertainty into the short-term outlook.
  • Security Ranking: The XRP Ledger’s poor showing in a security audit has dented investor confidence at a critical time.
  • Institutional Rebalancing: The volume surge and sharp price action point to aggressive repositioning by larger players.

What to Watch

  • Can XRP reclaim the $3.00 level as support or will it remain a ceiling?
  • Institutional behavior around the $2.85–$2.90 zone could signal accumulation or further downside risk.
  • October’s SEC decisions loom large as potential volatility catalysts.
  • Ongoing scrutiny of XRP Ledger’s technical weaknesses may weigh on ETF approval and broader adoption.

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