XRP has extended the losses in the last 24 hours, sliding under the bar of $ 3.00 after a net rejection to resistance. A combination of blockchain security problems and delayed regulatory decisions has led to heavy sales and profits between institutional offices.
New context
• A security audit ranked XRP LEDGER the lowest among 15 blockchains, eroding the confidence of investors.
• SEC has delayed decisions on several ETF XRP applications, including the deposit of Nasdaq coinshares, until October.
• Increased regulatory ambiguity and safety doubts have fueled portfolio adjustments in large commercial companies.
Summary of price action
• XRP fell 4% from $ 3.02 to $ 2.90 between August 19 at 06:00 and August 20 at 5:00 am.
• The most steep drop came from 1:00 p.m. to 3:00 p.m. on August 19, when the price went from $ 3.04 to $ 2.93.
• The volume increased to 137.18 million at 2:00 p.m., almost double the daily average of 71.23 million.
• Buyers defended $ 2.85 to $ 2.88 several times during the night.
• The price is stabilized nearly $ 2,89 to $ 2.90 in the last hour, which indicates a balance of just under $ 3.00.
Technical analysis
• Confirmed resistance at $ 3.04 with rejection controlled by volume.
• Established support area from $ 2.85 to $ 2.88 thanks to repeated defenses.
• Consolidation of $ 2,89 to $ 2.90 indicates the exhaustion of the immediate sales pressure.
• The overvoltage of the volume highlights institutional repositioning.
What traders look at
• The fact that $ 3.00 returns to support or remains a rejection barrier.
• Institutional flows from $ 2.85 to $ 2.90 to determine if the level forms a base.
• COLLEARS OF THE SEC in October as a medium -term volatility engines.
• Impact of safety rankings on FNB approval prospects.
