XRP Plunges to $2.90 Support as ETF Delays and Security Concerns Mount

XRP just hit a critical $2.90 support level—and the timing couldn't be worse. ETF delays keep piling up while security rankings tank, leaving investors scrambling for answers.

Why This Support Level Matters

That $2.90 mark isn't just another number. It's the line in the sand between holding gains and staring down a steeper drop. Break below it, and we're looking at a whole new ballgame.

ETF Delays: The Regulatory Quagmire

Regulators keep moving the goalposts—shocking, right? Each delay chips away at institutional confidence, making that 'imminent approval' narrative feel more like wishful thinking than strategy.

Security Rankings: The Unspoken Red Flag

Poor security scores don't just spook retail traders. They scream liability to big money—the kind that actually moves markets. Ignore this at your own portfolio's peril.

What's Next: Bounce or Breakdown?

All eyes are on whether $2.90 holds. A bounce could spark a relief rally, but a breakdown might trigger a cascade of stop-losses. Either way, volatility's back on the menu.

Remember: in crypto, 'support' is just resistance that hasn't broken yet. And Wall Street's still betting against the house while pretending they built it.

News Background

• A security audit ranked XRP Ledger lowest among 15 blockchains, eroding investor confidence.
• The SEC delayed rulings on multiple XRP ETF applications, including Nasdaq’s CoinShares filing, until October.
• Heightened regulatory ambiguity and security doubts fueled portfolio adjustments at major trading firms.

Price Action Summary

• XRP fell 4% from $3.02 to $2.90 between August 19 at 06:00 and August 20 at 05:00.
• The steepest drop came from 13:00–15:00 on August 19, when price collapsed from $3.04 to $2.93.
• Volume spiked to 137.18 million in the 14:00 hour, nearly double the daily average of 71.23 million.
• Buyers defended $2.85–$2.88 multiple times overnight.
• Price stabilized NEAR $2.89–$2.90 in the final hour, showing balance just under $3.00.

Technical Analysis

• Resistance confirmed at $3.04 with volume-driven rejection.
• Support zone established at $2.85–$2.88 through repeated defenses.
• Consolidation at $2.89–$2.90 signals exhaustion of immediate selling pressure.
• Volume surge highlights institutional repositioning.

What Traders Are Watching

• Whether $3.00 flips back into support or remains a rejection barrier.
• Institutional flows at $2.85–$2.90 to determine if the level forms a base.
• SEC rulings in October as medium-term volatility drivers.
• Impact of security rankings on ETF approval prospects.