XRP ETF Shockwaves: Ripple Price Shaken Below $2.90 Amid Security Audit Debacle

XRP (Ripple) has entered stormy waters, with its price tumbling under the critical $3.00 threshold—settling near $2.90 after two seismic blows rattled investor confidence.

🚨 A Double Hit: ETF Delays + Security Audit Nightmare

ETF Setback:

The U.S. SEC has pushed back multiple XRP ETF applications until October, including Nasdaq’s highly anticipated CoinShares filing. For institutions poised to deploy capital, this regulatory hesitation has injected fresh uncertainty, putting ETF ambitions firmly on ice.

Security Audit Catastrophe:

A recent independent audit delivered a brutal verdict: the XRP Ledger ranked dead last out of 15 major blockchains, with a score of 41/100.

Concerns include centralization risks, with only 35 validators on the default UNL, and a supply-chain hack earlier this year that compromised developer tooling.

In stark contrast, Ethereum scored 83/100, underscoring XRP’s structural vulnerabilities.

📉 Market Fallout: Institutions Head for the Exits

XRP collapsed from $3.04 to $2.93 in just two hours (1–3 PM, Aug 19), triggering a wave of liquidations.

Trading volume spiked to 137.18 million, nearly 2x the daily average (71M)—a telltale sign of institutional sell pressure.

Buyers defended the $2.85–$2.88 support zone, allowing stabilization near $2.89–$2.90, but momentum remains fragile.

🔑 Key Levels to Watch

Support: $2.85–$2.88 (short-term lifeline)

Resistance: $3.00–$3.04 (psychological ceiling)

Reclaiming $3.00 as support could reset bullish momentum; failure risks further downside.

⏳ October: The Make-or-Break Month

Ripple now faces a high-stakes showdown:

ETF Rulings (Oct 19 & 23): 21Shares and CoinShares proposals await SEC decisions.

Ripple’s National Bank Charter: A separate OCC ruling also looms in October.

Together, these outcomes will dictate whether XRP reclaims institutional trust—or sinks deeper into skepticism.