Key Takeaways
Well now, folks, looks like XRP’s hiking a muddy trail headed downhill. The charts and numbers are yellin’ “Beware!” – might slide all the way to $2.4 if that mighty support at $2.74 gives way. And believe me, that’s a whole lotta trouble brewing in crypto land.
Ripple [XRP] was holdin’ on to the $2.74 level like a cat in a dogfight, but the whole market had a sour attitude and was tryin’ to drag it into a bearish muck. Not good. 
This gloomy forecast was reinforced by the spot and futures taker CVD bein’ as negative as a rainy Sunday for a picnic – kept that way for a month, too. The CME Open Interest hit a record, which is usually a sign of excitement; but no fireworks just yet, folks. It’s just a lot of hot air. 
The fancy folks at AMBCrypto pointed out that $2.8 is a key level – if XRP drops below that, then brace yourselves, because it’s on track to tumble down to $2.4 like a drunkard to the bottom of a hill.
The August low at $2.74 isn’t just a number, it’s more like a cliff edge. Break through there, and the road leads to $2.4 faster than you can say “Oh no!” The MFI’s droopin’, and the 12-hour chart is as bearish as a grumpy Old Man winter. Other numbers agree: doom is doin’ a little jig.
Spot and Futures-The Sell-Off Continues
Since the good ol’ days of July, the spot taker CVD has been negative, which means the sellers have been passin’ around the popcorn while buyin’ is least popular than a skunk at a garden party. XRP hit $3.4 resistance, just shy of July’s high of $3.65, but don’t get your hopes too high – the trend’s lookin’ as tired as a mule after a long day.
And if that ain’t enough, Bitcoin went and dipped below $110k – talk about a sign the whole market’s feelin’ weaker than a paper tiger. Buckle up, folks, it’s gonna be a bumpy ride.
Over in futures land, the sellers still hold the decks – the futures taker CVD’s been negative too, since July, which screams “Bearish!” louder than a banshee at midnight. The Open Interest (OI) has been droppin’ faster than apples in an orchard, a sure sign that a lot of speculators are losin’ faith.
Yet, despite all this gloom and doom, the so-called “Estimated Leverage Ratio” (ELR) looks like it’s givin’ us a tiny hope. It’s fallin’ too, but that means the market ain’t overleveraged to the gills-so no wild liquidation storms just yet. Might be a little breather before the hammer falls.
Bottom line: XRP’s outlook is more bearish than a cat in a rainstorm. If it stays above $2.74 and $2.6, maybe, just maybe, it’ll survive this storm. But if those supports fall, well, you’ve got a front-row seat to the fiscal apocalypse.
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2025-08-31 04:10