The post Why Is Ripple’s (XRP) Price Down Today? appeared on BitcoinEthereumNews.com.

TL;DR Ripple’s native token was rejected at $3.1 yesterday and nosedived by over 6% in the following hours to a low ot $2.9. This particular price drop comes in a rather surprising period, as Ripple and its cryptocurrency have seen some enhanced adoption developments lately. XRPUSD. Source: TradingView XRP’s Price Struggles Looking on a monthly scale, XRP managed to do the unthinkable in mid-July when it broke out of its consolidation range at around $2.2-$2.3 and shot up to a new all-time high at over $3.6 – a moment that its community had waited for over seven years. However, the subsequent correction was almost immediate and culminated last week when the asset plunged to $2.73 (on Bitstamp) as whales were disposing of large token quantities. Nevertheless, XRP bounced off in the following days and jumped to $3.1 yesterday despite some warnings by analysts. As the perma-bullish XRP Army was convinced that the $3 resistance had been conquered and turned into support, the bears reemerged and pushed the asset south. Earlier today, Ripple’s cross-border payments token dumped to $2.9, which represented a 6.5% daily decline. Despite recovering some ground since then, XRP is still 4% down on the day and is well below $3. Why So? Obviously, the most probable reason that can be listed is the overall market condition, as almost all digital assets have failed to post any substantial gains in the past several days. The global macro situation also seems quite uncertain. However, Ripple and its native token have been the subject of quite a few positive developments lately. As reported earlier today, South Korea’s BDACS announced support for XRP. Separately, rumors emerged recently that BlackRock might be joining the XRP ETF race. Last but not least, Japan’s largest banking group, SBI Japan, said in its Q2 report…

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Filed under: News - @ August 6, 2025 12:26 pm