XRP Tanks 3% as Powell’s Whisper Sends Crypto Frenzy Overdrive

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What to know (if you’re still paying attention):

  • A fire sale of 470 million XRP tokens turned the chart into a Jackson Pollock painting 🎨-ugly, chaotic, and worth exactly $2.92 until it wasn’t.
  • The SEC, ever the romantic, postponed its XRP ETF decisions again. Courtship takes time, they say. 💔🏛️
  • XRPL’s security rating? A solid “meh” at the bottom of the blockchain barrel. 🛠️🪣

In this circus

BTCBTC$116,925.27◢3.65%

XRP “surged” 3% as Federal Reserve Chair Jerome Powell, with the subtlety of a sledgehammer, hinted at a September rate cut. 🏷️🔨 Bitcoin rallied, because why not? Meanwhile, 470 million XRP vanished like socks in a dryer-leaving $2.92 as the last remaining resistance, now a psychological speed bump. ETF delays? Check. Security flaws? Check. Bearish vibes? 🎵🎶

News Background

• Institutions dumped 470 million XRP like a bad Tinder date 💸 during Aug. 21-22. Volume spiked, but so did existential dread.
• On-chain settlements jumped 500% to 844 million tokens on Aug. 18. Progress! Or maybe just noise? 📈❓
• SEC postponed XRP ETF rulings. Nasdaq’s CoinShares filing? Now October. Surprise, surprise. 🎉 (Not.)
• XRPL security ranking? Last place among 15 blockchains. Hacker’s paradise! 🏴☠️

00 Aug. 21, XRP hit $2.92 on 69.1M volume and bounced. Like a bad Tinder date rejecting you. 💔

• Final hour drop: 2.5% to $2.80 on 7.2M volume. Bearish? No, just heartbroken. 💓📉

Technical Indicators

• Resistance at $2.92 held firm. Like your ex’s new partner. 💪
• Support at $2.80-$2.85? Weaker than a cheap IKEA shelf. 🛋️🪵
• Volume spiked to 96M on Aug. 22. Bearish? More like bear-market-certified. 🐻📉

What Traders Are Watching

• Will $2.80 hold? A break could send it to $2.75. Buckle up! 🚢
• ETF headlines? October’s the new September. 📅🔄
• Whale accumulation? Growing on-chain, but price? Unimpressed. 🐋📉
• $2.92-$3.00: The promised land. Or a mirage? 🌵

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2025-08-22 18:39