Why is $XRP price down today?
XRP fell 2.5% in the past 24h to $3.20, diverging from its 10.39% weekly gain. Key drivers include profit-taking after topping Grayscale’s leaderboard, technical resistance at $3.30–$3.45, and mixed ETF sentiment.
Profit-taking post-Grayscale surge – XRP’s 9.7% weekly gain triggered selling after hitting $3.30 resistance.
Technical rejection – Failed breakout above $3.30 confirmed bearish momentum on 3-day charts.
ETF uncertainty – BlackRock denied XRP ETF plans, cooling institutional speculation.
Overview: Analysts flagged $3.30 as a critical threshold – a 3-day close above this level was needed to confirm bullish momentum. XRP briefly touched $3.30 on August 7 but closed at $3.20, sparking technical selling.
What this means: The failure to hold $3.30 activated stop-loss orders and liquidated $31M+ in long positions. The RSI(14) at 57.59 shows neutral momentum, but bearish divergence emerged after the rejection. Fibonacci retracement levels now suggest $3.08 (50% level) as next support.
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