News about XRP ETF: Price plummets below $2.90 after a devastating security audit ranks the ledger last

$XRP (Ripple) plummets below $2.90 after a harsh security audit ranks its ledger as the weakest among competitors.

XRP (Ripple) has just received a double blow that caused its price to fall below $3.00. The crypto faced the SEC, which delayed decisions on ETFs until October, and a damning security audit that ranked XRP Ledger last among 15 major blockchains.

✨XRP (Ripple) price plummets as institutions withdraw

XRP dropped 4% from $3.02 to $2.90 between August 19 and 20. The worst sell-off occurred during two brutal hours from 1 to 3 PM on August 19, when the price collapsed from $3.04 to $2.93.

The trading volume exploded to 137.18 million during that hour, nearly double the usual daily average of 71.23 million. When volume increases like this, big players head for the exit. Buyers defended the $2.85-$2.88 zone overnight, with the price stabilizing around $2.89-$2.90.

✨XRP ETF dreams crushed until October

The SEC has just delayed multiple XRP ETF applications until October, including the significant Nasdaq CoinShares filing. This happened just as cryptocurrency investors were becoming optimistic about ETF approvals, forcing institutions to backtrack until there is regulatory clarity.

✨The security audit offers a harsh reality

Here are the details: a security audit ranked XRP Ledger 15th out of 15 major blockchains. That is catastrophically bad for investor confidence, especially with pending ETF applications.

From the SEC's perspective, they are already cautious

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