XRP is once again at a pivotal juncture after weeks of turbulence that saw Ripple’s native token lose its long-held position as the third-largest cryptocurrency by market capitalization. Following a steep pullback, traders are closely watching whether XRP can reclaim bullish momentum or if the token is at risk of another downturn.
On August 31, popular trader CrediBULL Crypto highlighted the $2.92 swing high as the next critical inflection point. He suggested that if XRP’s recent lows hold, a move toward this level is plausible. However, he also warned that $2.92 could act as a strong rejection zone. “Clear that, and we have a full-on reversal on our hands,” he noted. Despite the setup, CrediBULL later disclosed he had exited his position, citing the risk of downside liquidity grabs fueled by weakness in Ethereum’s price action.
This caution was validated in recent sessions as XRP slipped to $2.73 on August 30, marking its lowest level since early August. Still, not all analysts share the same bearish tone. Another community figure, CryptoBull, projects a much more ambitious breakout, targeting $7–$8 based on monthly chart patterns that point to a larger reversal structure.
Beyond technical factors, XRP’s fundamentals present a mixed picture. Data shows the XRP Ledger closed Q2 2025 with a record $131.6 million in tokenized real-world assets (RWAs), supported by high-profile participants like Guggenheim and Ondo. Ripple’s RLUSD stablecoin also grew nearly 50% quarter-on-quarter, securing its position as the network’s largest dollar-pegged asset. However, this growth has been offset by sharp declines in daily transactions and active addresses, suggesting a short-term dip in network engagement.
Market speculation is also heating up around potential ETF approvals. Former U.S. Senate candidate John E. Deaton recently argued that XRP inflows could “surprise many” once the SEC greenlights XRP-based products. With at least 15 active filings, including Amplify ETFs’ application for a Monthly Option Income product, investor anticipation is mounting that institutional capital could soon play a larger role in XRP’s trajectory.
At the time of writing, XRP is trading at $2.72, down 4% in the past 24 hours and 9.1% over the week, according to CoinGecko data. The token has fluctuated between $2.72 and $3.05 in recent days, reflecting heightened volatility. Its monthly performance shows a 9.7% decline, but zooming out, XRP remains up an impressive 386% year-on-year.
Despite strong 24-hour trading volume of $4.78 billion, XRP’s market cap has slipped to $162.4 billion, dropping it behind Tether (USDT), which now occupies the third spot in global crypto rankings.
For now, the key question remains whether XRP can hold its support levels and mount a recovery toward $2.92. A breakout above this threshold could open the door to higher levels, but failure to defend current ranges risks further retracement. With both technical setups and ETF speculation fueling investor debate, XRP’s next move could prove decisive in shaping its role in the evolving crypto market.
