XRP Battles to Hold $2.90 After Heavy Liquidations Despite Gemini Credit Card Catalyst
XRP tumbled 3.2% over the August 25–26 trading session, falling from $3.01 to $2.91 amid a surge of institutional liquidations. The steepest decline came during the 19:00–20:00 GMT window, when volumes spiked to three times the daily average, driving the token as low as $2.84. A late-session bounce brought XRP back above $2.90, though market participants remain divided on whether the recovery can extend.
The token’s weakness comes even as Ripple and Gemini unveiled an XRP-backed credit card with WebBank, offering up to 4% cashback on fuel, EV charging, and rideshare — and as much as 10% at select merchants. Still, regulatory overhang in the U.S. and repeated failures above $3.00 continue to cap upside momentum.
Technical signals point to resistance at $2.96 and support around $2.84–$2.86, aligned with the 20-day moving average. Momentum indicators are stabilizing, with RSI rebounding from 42 to the mid-50s and MACD narrowing toward a potential bullish crossover. Traders are watching whether XRP can hold above $2.90 to reopen the path toward $3.20–$3.30, while a break below $2.84 risks renewed losses to $2.80.
