Is XRP the New Drama Queen? Find Out Why It Just Slipped 3%!

• XRP, our beloved cryptocurrency diva, took a dramatic 3.2% tumble from $3.01 to $2.91 during the August 25-26 trading window, all thanks to a little institutional liquidation party. 🎉
• Despite some valiant recovery attempts, the market is still playing hard to get with XRP’s upward momentum. Oh, the suspense! 😏
• In a plot twist worthy of a soap opera, Gemini has teamed up with Ripple to launch an XRP credit card that promises cashback rewards, all while the regulatory drama unfolds in the U.S. 📜

XRP faced steep swings in the August 25-26 trading window, sliding from $3.01 to $2.91 for a 3.2% loss. A burst of institutional liquidation during the 19:00-20:00 GMT hour drove the sharpest drop, with volumes tripling daily averages. Recovery attempts late in the session brought the token back above $2.90, but the market remains split on whether upside momentum can sustain. Talk about a rollercoaster ride! 🎢

News Background

• XRP has been trading with all the volatility of a dramatic love affair through August, with repeated failures above $3.00. Will they ever get it right? 💔
• Whale wallets and institutional flows have been the puppeteers of short-term swings, adding pressure on retail positioning. Quite the tangled web! 🕸️
• Broader crypto benchmarks are enjoying steadier gains, leaving XRP trailing behind like a forgotten character in a sitcom. 📺
• Crypto exchange Gemini, founded by the charming Winklevoss twins, has announced its partnership with Ripple to launch an XRP edition of its credit card in collaboration with WebBank. How delightful! 🎩
• The card offers up to 4% cashback in XRP on fuel, EV charging, and rideshare, 3% on dining, 2% on groceries, and 1% on other purchases. Gemini is also working with select merchants to offer up to 10% back on eligible spending. Now that’s what I call a shopping spree! 🛍️

00-20:00 GMT as XRP fell from $2.96 to $2.84 on 217.58 million volume, far above the 72.45 million daily average. A real showstopper! 🎭

Technical Analysis

• Resistance confirmed at $2.96, aligning with upper Bollinger Band rejection. A classic case of “not today, darling!”
• Support built at $2.84-$2.86, consistent with the 20-day moving average zone. Stability, how quaint! 🏰
• $2.89 intraday floor shows accumulation, with RSI recovering from oversold levels near 42 to mid-50s, suggesting stabilizing momentum. A little recovery never hurt anyone! 💪
• MACD histogram narrowing toward a bullish crossover, signaling potential shift in short-term trend. Will the tides turn? 🌊
• Sustained trading above $2.90 needed to open the path toward $3.20-$3.30; break below $2.84 risks a slide toward $2.80 support. The suspense is palpable! 🎬

What Traders Are Watching

• Bulls target $3.70 if momentum extends and volumes normalize. Go, team, go! 🏆
• Bears flag $2.80 as the breakdown level that could accelerate losses. Oh dear, not the bears! 🐻
• Institutional absorption remains key – whether large players continue supporting bids around $2.89-$2.90 will dictate the next leg. The drama continues! 🎭