Ripple's XRP token is experiencing potential selling pressure as critical support levels are being tested. An analysis of the price forecasts and current market dynamics.
Current XRP Price Scenario
Major holders have sold off 460 million tokens, resulting in a 13% price drop over the past week, with traders now eyeing $2.85 as the next support level. In anticipation of Federal Reserve Chair Jerome Powell’s speech on Friday, August 22, 2025, some wallets began reducing their exposure.
Key Signs XRP Could Slide Lower
Key signs indicating a potential decline include high profit margins for holders, likely prompting profit-taking. Additionally, a bearish RSI has dipped to 35, approaching oversold territory, suggesting a negative outlook. If XRP falls below $2.85, the next support levels could be at $2.74 and possibly $2.63.
XRP Price Prediction for Today
Whether XRP can hold at $2.85 today and throughout the week leading to Powell's speech is crucial. A bounce might trigger an upward move toward the $3.02 range, but current indicators show sellers are in control, leading to a generally bearish forecast with a potential drop to $2.74.
The XRP market situation remains tense, and traders should exercise caution while analyzing price dynamics and key resistance levels.
