finbold.com
$XRP has slipped back below the psychologically important $3 mark, trading at $2.94 at the time of publication.
The move represents a 2% daily loss and extends a 1% decline on the week, with the token now down more than 7% over the past month.
The pullback highlights a sharp reversal in sentiment. Despite growing optimism around a potential spot $XRP exchange-traded fund (ETF) and lingering momentum from Ripple’s legal victory in August, price action has failed to sustain. Instead, traders are confronting the reality of fading catalysts, profit-taking, and unresolved regulatory questions.
$XRP price market data
Market data shows that $XRP underperformed the broader crypto market’s 2.88% decline over the past 24 hours, falling 2.36% during the same window. Analysts attribute the weakness to three overlapping drivers: heavy profit-taking after the initial ETF filing buzz, technical rejection at the $3.06 resistance zone, and whale distribution flows exceeding $90 million in recent days.
Regulatory developments have only added to the uncertainty. The Securities and Exchange Commission (SEC) has delayed decisions on seven $XRP ETF applications until October 2025. While the Ripple-SEC case dismissal in August removed a major legal overhang, the extended timeline for ETF approval has created a “sell the news” effect.
Without the immediate prospect of institutional inflows, estimated between $4.3 billion and $8.4 billion, the bullish narrative has been pushed further out.
$XRP technical analysis
Technically, $XRP’s rejection at the 50% Fibonacci retracement level ($3.06) from its July high of $3.38 to its August low of $2.75 has deepened bearish momentum. Indicators confirm the breakdown: the MACD histogram at –0.0199 signals accelerating downside pressure, while failure to hold above $3 suggests weak conviction among bulls. Analysts are now eyeing $2.99 as the next key support at the 61.8% Fib retracement, just 2.3% below current levels.
Looking ahead, traders will be closely watching the SEC’s commentary at the Digital Asset Summit (September 9–11) for hints of regulatory direction. Until then, $XRP’s trajectory remains vulnerable to further volatility, with short-term sentiment skewed bearish despite long-term optimism over ETF approval and institutional adoption.