Will XRP Survive the Powell Speech? 🤔💰

In a world where the whims of financial titans can send ripples through the market like a pebble tossed into a serene pond, the fate of Ripple’s XRP token hangs in the balance. Major holders, sensing the storm on the horizon, have already begun their exodus, dumping 460 million tokens into the abyss, causing a 13% plunge in value over the span of a mere week. Now, the eyes of the crypto world are fixed on the $2.85 mark, a line in the sand that could determine the future of XRP. 😱

The forecast, once bright and bullish, has dimmed to a cautious glow, as crypto.news analysts warn of turbulent times ahead. But what lies in store for the humble XRP? Let us delve deeper into the mire of market predictions and technical analysis. 🕵️‍♂️

Current XRP price scenario

The great and powerful Jerome Powell, Fed Chair and keeper of the monetary keys, is set to speak at Jackson Hole on Friday, and major wallets have taken note. They have begun to lighten their load, anticipating the potential for a price drop should Powell’s words turn the market’s mood sour. If he hints at interest rate cuts, the floodgates of liquidity and risk appetite may open, lifting the spirits of cryptos. But a hawkish tone could spell doom, sending more XRP tokens tumbling into the void. As it stands, XRP is trading at $2.90, a fragile perch indeed. 💰📉

Breaking free from the constraints of a symmetrical triangle, XRP has fallen beneath the 50-day moving average, slipping from the lofty heights of $2.95 it enjoyed just yesterday. The road ahead is fraught with peril, with support levels at $2.74 and $2.63 waiting like traps for the unwary. Over the last seven days, XRP has lost -11.6% of its value, and over the past month, the decline is even steeper at -18.52%. 🌋🔥

Key Signs XRP could slide lower

1: High profit margins

It is said that in the world of finance, greed is a powerful motivator. With 93% of the circulating supply of XRP sitting pretty in profit, it’s no wonder that many holders are tempted to cash out. This flood of selling could very well tip the scales, sending XRP into a downward spiral. 🤑📉

2: Bearish technical structure

The Relative Strength Index (RSI) has dipped into the murky waters of oversold territory, a clear sign that the bears are in control. Candlestick formations, those ancient symbols of market sentiment, are telling tales of woe, with patterns like the “three black crows” foretelling a bearish future. 🦅📉

While a short-term bounce is always possible, especially when the RSI is this low, the overall forecast remains grim. Traders will need to muster all their courage to buy the dip and stabilize XRP, lest it fall further into the abyss. A return to the resistance band between $2.95 and $3.15 would be a welcome sight, but for now, caution is the watchword. 🛡️📉

3: Next support levels

Should XRP breach the $2.85 barrier, as the omens suggest it might, the next stops on the downward journey are $2.74 and $2.63. But for XRP to find its footing, buyers will need to step up with conviction. Without a strong showing of support, any correction could lead to further losses. 📉💔

XRP price prediction for today

The fate of XRP today and in the coming week hinges on its ability to hold the $2.85 line. A successful defense could spark a rally, pushing the price back towards the $3.02 mark. However, the current chart indicators suggest that the sellers are in control, and the momentum is decidedly bearish. Crypto.news analysts predict that XRP could continue its descent below $3. Traders would do well to tread carefully, as the short-term outlook for Ripple remains defensive until key resistance levels are reclaimed. 🛑📉

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2025-08-20 15:03