XRP spiked 3%when Federal Reserve -President Jerome Powell established a September rate on the table on Friday, causing Bitcoin (BTC) and bigger tokens to move higher.
470 million token sales ran volume tips and powerful resistance to $ 2.92, while ETF delays and weak security rankings composed bearish pressure.
News Background
• Institutional liquidations dominated trade as 470 million XRP were read across major exchanges during the window 21 to 22 August and triggered a sharp sale.
• On-chain settlement quantities rose 500% to 844 million tokens on August 18, one of the largest spikes this year, signaling the adoption growth despite the weakness of the market.
• SEC exposed decisions on XRP ETF applications, including Nasdaq’s submission of CoinShares, are now expected in October. The delay adds to legislative uncertainty.
• A security assessment placed XRPL at the lowest ranking among 15 blockchains, raising concerns about network’s robustness and adding Bearish mood.
Summary of Price Action
• XRP dropped 3.1% in the 24-hour session from August 21st 13:00 to 22 August 12:00 and fell from $ 2.89 to $ 2.80.
• Token varied $ 0.12, a 4.25% volatility tape, between a $ 2.92 top and $ 2.80 trough.
• The sharpest move took place at 19:00 on August 21, when XRP was rejected to $ 2.92 of 69.1 m binding, which confirmed greater resistance.
• Final Hour Trading (August 22, 11: 24-12: 23) So XRP falls 2.5% from $ 2.82 to $ 2.80 on undulating volume of 7.2 m, confirming Bearish Continuation.
• Support arose near $ 2.80- $ 2.85, but the accumulation interest was weakened with each retest.
Technical indicators
• Resistance hardened to $ 2.92 of 69.1 m rejection of volume.
• Support identified at $ 2.80- $ 2.85 zone, though weakening by repeated testing.
• Volume spiked to 96 m at. 11.00 August 22, confirming Bearish follow -up.
• Trade area of $ 0.12 (4.25%) highlights volatility concentration.
• The last hour’s sale of 2.5% with 7.2 m volume validated bearish continuation.
Which dealers are looking at
• About $ 2.80 may be as support; A break risks acceleration against $ 2.75.
• ETF-related headlines, with October decisions key to wider institutional currents.
• Whale accumulation patterns-recording chain recording but price that does not reflect basic elements.
• $ 2.92- $ 3.00 Resistance zone as a breakout trigger for bullish reversing.
