Share this article
XRP Zooms 3% as Bitcoin Spikes on Powell Comments
Institutional liquidations dominated trading as 470 million XRP were offloaded across major exchanges during the Aug. 21–22 window, triggering a sharp selloff.
Updated Aug 22, 2025, 2:19 p.m. Published Aug 22, 2025, 2:19 p.m.
What to know:
- A massive selloff of 470 million XRP tokens led to a significant price drop and resistance at $2.92.
- The SEC's delay in ruling on XRP ETF applications adds to the regulatory uncertainty impacting the market.
- XRP's security ranking is among the lowest, further contributing to the bearish market sentiment.
XRP Spiked 3% as Federal Reserve Chair Jerome Powell firmly put a September rate cut on the table on Friday, causing bitcoin and major tokens to move higher.
470 million token selloff drove volume spikes and heavy resistance at $2.92, while ETF delays and weak security rankings compound bearish pressure.
News Background
• Institutional liquidations dominated trading as 470 million XRP were offloaded across major exchanges during the Aug. 21–22 window, triggering a sharp selloff.
• On-chain settlement volumes surged 500% to 844 million tokens on Aug. 18, one of the largest spikes this year, signaling adoption growth despite market weakness.
• The SEC postponed rulings on XRP ETF applications, including Nasdaq’s CoinShares filing, now expected in October. The delay adds to regulatory uncertainty.
• A security assessment placed XRPL at the lowest ranking among 15 blockchains, raising concerns about network robustness and adding to bearish sentiment.
STORY CONTINUES BELOW
Jangan lewatkan cerita lainnya.Berlangganan Newsletter Crypto Daybook Americas hari ini. Lihat semua newsletter
Price Action Summary
• XRP declined 3.1% in the 24-hour session from Aug. 21 13:00 to Aug. 22 12:00, falling from $2.89 to $2.80.
• The token ranged $0.12, a 4.25% volatility band, between a $2.92 peak and $2.80 trough.
• The sharpest move occurred at 19:00 on Aug. 21, when XRP was rejected at $2.92 on 69.1M volume, confirming major resistance.
• Final hour trading (Aug. 22 11:24–12:23) saw XRP drop 2.5% from $2.82 to $2.80 on surging volume of 7.2M, confirming bearish continuation.
• Support emerged near $2.80–$2.85, but accumulation interest weakened with each retest.
Technical Indicators
• Resistance hardened at $2.92 on 69.1M volume rejection.
• Support identified at $2.80–$2.85 zone, though weakening on repeated tests.
• Volume spiked to 96M at 11:00 Aug. 22, confirming bearish follow-through.
• Trading range of $0.12 (4.25%) highlights volatility concentration.
• Final hour selloff of 2.5% with 7.2M volume validated bearish continuation.
What Traders Are Watching
• Whether $2.80 can hold as support; a break risks acceleration toward $2.75.
• ETF-related headlines, with October decisions key to broader institutional flows.
• Whale accumulation patterns — on-chain adoption growing, but price failing to reflect fundamentals.
• $2.92–$3.00 resistance zone as breakout trigger for bullish reversal.
Lebih untuk Anda
Yang perlu diketahui:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Lebih untuk Anda
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
Yang perlu diketahui:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
