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XRP Price Faces Critical Support Test at $2.84 as Market Correction Continues
The post XRP Price Faces Critical Support Test at $2.84 as Market Correction Continues appeared on BitcoinEthereumNews.com. Felix Pinkston Aug 31, 2025 05:59 XRP trades at $2.84 after dropping below $3, showing bearish momentum despite positive Ripple partnerships. Key support at $2.76 becomes crucial for bulls. Quick Take • XRP currently trading at $2.84 (+0.32% in 24h) • XRP RSI at 42.96 signals neutral territory with bearish bias • Recent market correction pushed XRP price below $3 despite positive partnership news What’s Driving Ripple Price Today? The XRP price faced significant pressure this week as it dropped below the psychologically important $3 level during Thursday’s broader market correction. This decline of 5.35% to approximately $2.82 affected nearly all major cryptocurrencies, with 95 of the top 100 digital assets experiencing losses. Despite positive developments for Ripple’s ecosystem, including the partnership with SBI Holdings to distribute the RLUSD stablecoin in Japan and joining TRM Labs’ Beacon Network for enhanced security, these fundamental improvements have failed to provide immediate price support. The disconnect between positive news and XRP price action highlights how broader market sentiment currently dominates individual token fundamentals. The timing of these partnerships, while strategically important for Ripple’s long-term adoption, coincided with a market-wide risk-off sentiment that overshadowed their potential positive impact on XRP’s valuation. XRP Technical Analysis: Bearish Signals Emerge Ripple technical analysis reveals several concerning indicators for short-term price action. XRP’s RSI at 42.96 sits in neutral territory but shows a downward trajectory from overbought levels, suggesting continued selling pressure may emerge. The MACD indicator presents a clearly bearish picture for XRP, with the main line at -0.0512 and the signal line at -0.0271. The negative histogram of -0.0242 confirms that bearish momentum is accelerating, indicating that sellers remain in control of XRP price direction. Ripple’s position within the Bollinger Bands tells a compelling story. With XRP trading…
The post XRP Price Faces Critical Support Test at $2.84 as Market Correction Continues appeared on BitcoinEthereumNews.com.
Felix Pinkston Aug 31, 2025 05:59 XRP trades at $2.84 after dropping below $3, showing bearish momentum despite positive Ripple partnerships. Key support at $2.76 becomes crucial for bulls. Quick Take • XRP currently trading at $2.84 (+0.32% in 24h) • XRP RSI at 42.96 signals neutral territory with bearish bias • Recent market correction pushed XRP price below $3 despite positive partnership news What’s Driving Ripple Price Today? The XRP price faced significant pressure this week as it dropped below the psychologically important $3 level during Thursday’s broader market correction. This decline of 5.35% to approximately $2.82 affected nearly all major cryptocurrencies, with 95 of the top 100 digital assets experiencing losses. Despite positive developments for Ripple’s ecosystem, including the partnership with SBI Holdings to distribute the RLUSD stablecoin in Japan and joining TRM Labs’ Beacon Network for enhanced security, these fundamental improvements have failed to provide immediate price support. The disconnect between positive news and XRP price action highlights how broader market sentiment currently dominates individual token fundamentals. The timing of these partnerships, while strategically important for Ripple’s long-term adoption, coincided with a market-wide risk-off sentiment that overshadowed their potential positive impact on XRP’s valuation. XRP Technical Analysis: Bearish Signals Emerge Ripple technical analysis reveals several concerning indicators for short-term price action. XRP’s RSI at 42.96 sits in neutral territory but shows a downward trajectory from overbought levels, suggesting continued selling pressure may emerge. The MACD indicator presents a clearly bearish picture for XRP, with the main line at -0.0512 and the signal line at -0.0271. The negative histogram of -0.0242 confirms that bearish momentum is accelerating, indicating that sellers remain in control of XRP price direction. Ripple’s position within the Bollinger Bands tells a compelling story. With XRP trading…
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