XRP expanded losses over the last 24 hours and slides under the $ 3.00 mark after a sharp rejection by resistance. A combination of blockchain security concerns and delayed legislative decisions ran strongly sales and profits across institutional desks.
News Background
• A security audit ranked the XRP Ledger lowest among 15 blockchains that erode investors’ confidence.
• SEC delayed decisions on several XRP ETF applications, including Nasdaq’s CoinShares archiving until October.
• Increased regulatory ambiguity and security doubts made portfolio adjustments at major trading companies.
Summary of Price Action
• XRP dropped 4% from $ 3.02 to $ 2.90 between August 19 at. 06:00 and August 20 at. 05:00.
• The steepest fall came from 13:00 to 15:00 on August 19, when the price collapsed from $ 3.04 to $ 2.93.
• Volume spiked at 137.18 million in 14:00 hours, almost twice the daily average of 71.23 million.
• Buyers defended $ 2.85- $ 2.88 several times overnight.
• Price stabilized near $ 2.89- $ 2.90 in the last hour and shows balance barely $ 3.00.
Technical analysis
• Resistance confirmed to $ 3.04 with volume -driven rejection.
• Support zone established at $ 2.85- $ 2.88 through repeated defense.
• Consolidation to $ 2.89- $ 2.90 Signals Frequency of Immediate Sales Press.
• Volume Surge highlights institutional repositioning.
Which dealers are looking at
• Whether $ 3.00 lashes back to support or remains a rejection barrier.
• Institutional flows to $ 2.85- $ 2.90 to determine if the level forms a base.
• SEC decisions in October as the medium term volatility drivers.
• The effect of security rankings on ETF approval prospects.
