XRP ETF News: Price Crashes Under $2.90 After Harsh Security Audit
Key Developments
Price Drop: XRP (Ripple) plunged below $2.90, falling 4% from $3.02 to $2.90 between August 19–20.
Heavy Selloff: The sharpest decline came between 1–3 PM on August 19, when price collapsed from $3.04 to $2.93.
Trading Volume Surge: Volume spiked to 137.18M, nearly double the average daily volume of 71.23M—signaling that institutional investors were exiting.
---
Why the Crash Happened
1. SEC ETF Delay:
The U.S. SEC delayed multiple XRP ETF applications until October 2025, including the Nasdaq–CoinShares filing.
This eroded institutional confidence, since ETF approval hopes had been fueling optimism.
2. Security Audit Blow:
A major security audit ranked XRP Ledger 15th out of 15 blockchains—the weakest score possible.
This further shook investor confidence, as poor security ratings complicate the SEC’s already cautious stance on crypto ETFs.
---
Market Outlook
Support Levels: Strong buyer defense seen at $2.85–$2.88, with current stabilization around $2.89–$2.90.
Resistance Levels: Immediate resistance at $3.04.
ETF Impact: October SEC rulings will be make-or-break for XRP’s ETF chances. Security concerns may weigh heavily against approval.
---
⚡ Takeaway: XRP faces a double challenge—regulatory delays and a poor security rating—casting doubt on near-term institutional adoption. Traders are closely watching whether XRP can reclaim the $3.00 level and whether October brings clarity or further setbacks.
