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XRP price has experienced a sharp decline, falling below the $3 mark as regulatory uncertainty continues to weigh on the cryptocurrency. The price drop came after the SEC announced another delay for spot ETF applications, including XRP, pushing decisions to October 2025.

XRP Price

The cryptocurrency fell 2% in the past 24 hours following the SEC announcement. XRP tested the $2.85 support level after declining from previous highs near $3.095.

Technical analysis shows XRP trading below the $3 resistance zone and the 100-hourly Simple Moving Average. The price has struggled to maintain support above $3 and remains vulnerable to further losses.

(Click on image to enlarge)

Source: Glassnode

Exchange data reveals an interesting development despite the price decline. XRP supply held on centralized exchanges dropped to just 5.66%, marking the lowest level in a month. This represents a 3% decrease since August 9, according to Glassnode data.

The reduction in exchange holdings suggests investors are moving their XRP tokens into self-custody wallets. This trend typically indicates reduced selling pressure as tokens held on exchanges are more likely to be sold.

Technical Analysis Shows Mixed Signals

The Relative Strength Index (RSI) currently sits at 32, placing XRP in oversold territory. This technical indicator suggests the cryptocurrency may be due for a bounce from current levels.

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Source: TradingView

However, the MACD indicator presents a different picture, showing bearish momentum. The conflicting signals indicate potential for continued downside before any recovery materializes.

Key resistance levels include $2.92 and $3.00, while support levels are positioned at $2.85 and $2.74. A break below the $2.80 support could trigger further declines toward $2.72.

The price action has formed what analysts describe as a potential double bottom pattern near the $2.90 support level. This technical formation could prove bullish if the support holds.

XRP Price Prediction

While waiting for U.S. regulatory approval, XRP adoption has continued expanding across various sectors. The cryptocurrency can now be used for flights, hotels, and other services.

Ripple recently launched an XRP Rewards Event for its community, generating enthusiasm despite the price decline. The company continues pursuing its U.S. bank license application alongside the pending ETF decision.

The SEC delay until October 2025 extends the regulatory uncertainty that has surrounded XRP for years. Market participants now await clarity on the ETF applications and broader regulatory framework.

XRP currently faces immediate resistance at $2.92, with a clear break above this level potentially opening the path toward $3.00. Failure to hold current support levels could result in further downside toward $2.74.

The hourly MACD indicator shows increasing bearish momentum, while the RSI below 50 confirms the current downward trend. These technical factors suggest caution for potential buyers at current levels.

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