Paul Bennett

$XRP Drops Below $3 as Traders Take Profits 💸

XRP has slipped under the $3 mark, trading at $2.94, marking a 2% daily drop and extending a 1% weekly decline. The token is now down over 7% in the past month, showing that market optimism around spot ETFs and Ripple’s legal wins is fading in the short term.

📊 Market Drivers:

- Heavy profit-taking after ETF buzz

- Technical rejection at $3.06 resistance

- Whale distributions exceeding $90M

⚖ Regulatory Update:

- SEC delays seven $XRP ETF decisions until Oct 2025

- “Sell the news” effect after Ripple-SEC case dismissal

📈 Technical Outlook:

- Rejection at 50% Fibonacci retracement ($3.06)

- MACD histogram at –0.0199 → accelerating bearish pressure

- Next key support at $2.99 (61.8% Fib)

Investors are eyeing the SEC’s commentary at the Digital Asset Summit (Sept 9–11) for clues, but until then, $XRP remains vulnerable to volatility despite long-term bullish expectations.

#XRP #Ripple #XRPETF

📊WhiteBIT Chart (5D) $XRP / $USDT :