Whale Sell-Off and ETF Uncertainty Slam XRP: Is $2.8 Just a Brief Pause Before Deeper Declines?

XRP tanks as whales dump holdings and ETF prospects dim—market braces for impact.

Massive Sell-Off Pressure

Whale movements trigger cascading sell pressure, pushing XRP below critical support levels. The $2.8 mark now looks fragile as large holders cash out positions.

ETF Approval Doubts Mount

Regulatory hesitation creates perfect storm for XRP. Traditional finance's trademark 'wait-and-see' approach leaves crypto investors holding the bag—again.

Technical Breakdown Accelerates

Price action suggests $2.8 won't hold as resistance builds. Market sentiment shifts from cautious to outright bearish as volume spikes on the downside.

Just another day where crypto's volatility meets Wall Street's indecision—and retail traders get squeezed in the middle.

XRP Price Action: $2.85–$2.90 Becomes Key Battleground

Price action data shows XRP’s sharpest drop occurred between 13:00 and 15:00 UTC on August 19, when it slid from $3.04 to $2.93 as volume spiked to 137 million, nearly double the daily average.

Despite heavy selling, buyers repeatedly defended the $2.85–$2.88 zone, preventing further collapse.

Currently, XRP is consolidating NEAR $2.85–$2.90, a sign that short-term selling pressure may be easing. Still, resistance at $3.04 has been confirmed, making a bullish recovery difficult without stronger demand.

For traders, the $2.8 level is now the most critical support to watch. A breakdown could open the door for a deeper decline, while reclaiming $3.00 WOULD signal renewed buyer strength. Analysts note that a recovery above $3.19 is essential for momentum to shift back in favor of the bulls.

Adding to the pressure, a security audit ranked the XRP Ledger lowest among 15 major blockchains, sparking concerns over long-term resilience. Meanwhile, the U.S. SEC has delayed decisions on several XRP ETF applications, including Nasdaq’s CoinShares filing, until October, deepening regulatory uncertainty.

Until the SEC rules on ETF filings in October, XRP may remain volatile as whales continue to offload and institutional investors adjust their portfolios. Whether this dip is a healthy correction or the start of a broader downturn will depend on how well XRP can defend its current support levels in the days ahead.

Cover image from ChatGPT, XRPUSD chart from Tradingview