TLDR
- XRP trading at $2.95 with 24-hour decline of 1.98% and $12.35 billion trading volume
- Gemini launched limited-edition XRP rewards credit card offering 4% cashback
- Key support levels between $2.97 and $2.84 seen as crucial for XRP’s next move
- Whale addresses holding 1-10 million XRP have increased holdings to 10.6% of total supply
- Despite current dip below $3, analysts see potential for breakout above $3.10
XRP, the native cryptocurrency of the Ripple blockchain, currently trades at $2.95 as market participants assess new developments surrounding the token. The digital asset has experienced a 24-hour decline of 1.98%, with trading volume reaching $12.35 billion and market capitalization standing at $176.03 billion.
The recent price action comes amid a broader cryptocurrency market sell-off, with the total crypto market cap dropping by 4.5% over the last 24 hours. Bitcoin has fallen below $110,000 after losing 3.5% of its value, while Ethereum risks dropping below $4,400 after recently setting a new all-time high above $4,900.
XRP has not been spared from this market-wide pressure, losing nearly 5% of its value and trading below the $3 mark. The token dropped to $2.82 a few hours ago before recovering slightly to its current level.
Despite the recent price decline, several factors keep XRP in focus for investors and crypto users.
Gemini Launches XRP Rewards Credit Card
In a move that has caught the attention of the crypto community, Gemini has announced the release of the “Gemini Credit Card – XRP Edition.” This limited-edition metal card enables cardholders to earn 4% back in XRP on select purchases such as fuel, electric vehicle charging, and rideshare services.
The credit card is issued by WebBank and resembles other Gemini cashback cards in structure. This offering provides crypto enthusiasts with an immediate and hassle-free way to expand their XRP holdings through everyday spending.
In addition to the credit card launch, Gemini announced it is expanding the use of Ripple USD (RLUSD) to customers in the United States.
Ripple CEO Brad Garlinghouse commented on these developments, stating, “Fifty-five million Americans own crypto, and that number is only increasing as more people look for easier ways to access and use it in their daily lives. With Gemini, we’re making everyday spending a chance to earn and connect with both XRP and RLUSD.”
Technical Analysis and Whale Activity
From a technical perspective, crypto analyst Man of Bitcoin explained that the immediate drop in XRP was invalidated, suggesting some stability. However, a diagonal formation is ongoing, with important levels to monitor between $2.97 and $2.84 that may determine if the current scenario persists.
$XRP price has invalidated the direct move to the downside. However, a diagonal pattern is still on the table.
Support to keep the yellow scenario alive is between $2.97 and $2.84. pic.twitter.com/iXBQIxzjkW— Man of Bitcoin (@Manofbitcoin) August 24, 2025
The technical indicators remain neutral, suggesting that bulls could potentially regain control of the market. The MACD lines are switching into the negative zone, while the Relative Strength Index (RSI) of 47 shows that XRP could enter the oversold region if selling pressure continues.
Data from Santiment reveals an interesting trend in whale activity. Addresses holding between 1 million and 10 million XRP have grown to hold approximately 10.6% of the total supply, up from 9.8% in early July and 9.14% in early March.
This accumulation by large holders could be a positive sign for XRP’s medium to long-term outlook, potentially supporting a rally if market conditions improve.
Derivatives Market Activity
The derivatives market for XRP has shown rising activity, with trading volume jumping 119.74% to $12.58 billion, reflecting renewed investor interest. Despite this surge in volume, open interest dipped slightly by 0.90% to $8.27 billion.
This combination indicates that while many trades are being executed, some positions are being closed. The Open Interest Weighted rate at 0.0115% suggests that overall market sentiment is fairly balanced.
If the recovery persists, XRP could test the $3.10 resistance level before potentially moving toward the $3.40 region. However, if market-wide selling pressure continues, XRP might retest last week’s low of $2.77, with strong support at $2.72.
The post XRP (XRP) Price: Analysts Point to $3.10 Resistance Level as Next Target appeared first on Blockonomi.
Source: https://blockonomi.com/xrp-xrp-price-analysts-point-to-3-10-resistance-level-as-next-target/