🚨 XRP ETF Setback: Price Crashes Below $2.90 After Damning Security Audit
XRP (Ripple) has come under heavy pressure, plunging below $3.00 after facing a double blow: a delayed ETF decision from the SEC and a devastating security audit ranking its ledger dead last among major blockchains.
📉 Price Action: Sharp Selloff as Institutions Exit
Price Drop: Between August 19–20, XRP fell from $3.02 to $2.90, a 4% decline.
Flash Selloff: The steepest drop occurred between 1–3 PM on August 19, when the token collapsed from $3.04 to $2.93.
Volume Surge: Trading activity spiked to 137.18 million during that hour—almost double the daily average of 71.23 million.
➡️ This signals large institutional players were aggressively offloading positions.
Currently, buyers are defending the $2.85–$2.88 support zone, stabilizing price around $2.89–$2.90.
⏳ SEC Delays XRP ETF Decisions Until October
The SEC has postponed rulings on several XRP ETF applications, including the highly anticipated Nasdaq–CoinShares filing.
👉 The delay hit just as optimism around ETF approvals was growing, forcing institutions to hold back until regulatory clarity emerges.
💥 Security Audit: XRP Ledger Ranks Worst Among 15 Blockchains
A recent audit delivered a severe blow to investor confidence, ranking the XRP Ledger 15th out of 15 major blockchains in terms of security.
This positions XRP as the weakest chain among its peers.
For the SEC, already cautious on crypto ETFs, this raises further red flags.
Institutions conducting due diligence are now likely reconsidering exposure to XRP.
📊 Key Technical Levels
Resistance: $3.04
Support: $2.85–$2.88
Traders are closely watching whether $3.00 can reclaim support, or if price risks a deeper breakdown below $2.85.
🔮 Outlook: October Will Be a Turning Point
The upcoming October SEC decisions represent a make-or-break moment for XRP.
However, with confidence shaken by the security audit, the path to ETF approval just became significantly more challenging.