Simon S Sabir

(Ripple) plunges under $2.90 after a harsh security audit ranks its ledger as the weakest among competitors.
‎XRP (Ripple)  just got hit with a double whammy that sent its price tumbling below $3.00. The crypto faced the SEC pushing back ETF decisions until October, and a damning security audit that ranked XRP Ledger dead last among 15 major blockchains.
✨XRP (Ripple) Price Gets Hammered as Institutions Bail Out
RP crashed 4% from $3.02 to $2.90 between August 19-20. The worst selloff happened during two brutal hours from 1-3 PM on August 19, when price collapsed from $3.04 to $ 2.93.
Trading volume exploded to 137.18 million during that hour - nearly double the usual 71.23 million daily average. When volume spikes like that, big players are heading for the exits. Buyers defended the $2.85-$2.88 zone overnight, with price stabilizing around $2.89-$2.90.
✨XRP ETF Dreams Crushed Until October
The SEC just delayed multiple XRP ETF applications until October, including the big Nasdaq CoinShares filing. This hit right when crypto investors were getting optimistic about ETF approvals, forcing institutions to pull back until there's regulatory clarity.
✨Security Audit Delivers Brutal Reality Check
Here's the kicker - a security audit ranked XRP Ledger 15th out of 15 major blockchains. That's catastrophically bad for investor confidence, especially with ETF applications pending.
From the SEC's perspective, they're already cautious about crypto ETFs, and now XRP's blockchain has the worst security rating possible. Big institutions doing their homework are probably thinking twice about XRP positions.
XRP now has resistance at $3.04 and support around $2.85-$2.88. Traders are watching whether $3.00 can flip back to support and if the support zone holds. Those October SEC rulings will be make-or-break moments - with security concerns in the mix, ETF approval just got much harder.

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