XRP price hovered around $2.88 after this week’s dip.
After a broader market downswing, XRP losses have hit 10% for the past seven days.
Bulls face pressure near $3 but tailwinds could help them rip to a new peak.
XRP trader around $2.88 with buyers trying to flip positive amid downside pressure, with sellers having taken out bulls near the $3 mark.
As the Ripple token grapples with bearish sentiment that cuts across a volatile cryptocurrency market, weekly losses have jumped to over 10% and XRP risks further losses.
But could positive developments, including regulatory clarity and growing institutional interest, provide tailwinds for XRP’s potential rebound?
XRP price dips as weekly losses mount
XRP has declined by about 10% in the past week, and is trading around $2.88 as of writing on August 21, 2025.
The dip sees the Ripple cryptocurrency extend its drift from recent highs of $3.40, with downside action over the past week exceeding -10%.
Notably, this sees XRP form a downtrend line and slip below its 50-day simple moving average. As a critical technical indicator, this slip under the 50 SMA signals weakening momentum.
While this drop aligns with broader market dynamics, which has seen Bitcoin drop to $113k and Ethereum pare gains, XRP faces downward pressure amid notable whale selling.
Onchain data indicates whales have dumped about 460 million XRP in a little over a week, with bulls facing off with bears near the $3 mark.
XRP price forecast: tailwinds and technical outlook
Risk-off sentiment has engulfed a large part of the market as investors become jittery amid macro headwinds.
Inflation data, including a surprise surge in the US producer price index in July, added to the uncertainty. Geopolitical events and the upcoming Jackson Hole symposium, where Federal Reserve Chair Jerome Powell is expected to speak, are key events this week.
For the latter, XRP holders are as upbeat as the rest of the market.
Investors are braced for any potential signals that the Fed will cut interest rates, a likely boost for risk assets like cryptocurrencies. However, a hawkish Fed could further depress XRP.
$XRP looks ready to bounce! After perfectly timing the top, the signal now says BUY. pic.twitter.com/NBbQuXd7RG
— Ali (@ali_charts) August 20, 2025
Despite the current bearish tilt, XRP is still largely bullish amid notable tailwinds. This includes Ripple’s march to a resolution of its legal hurdle from the SEC lawsuit.
Additionally, Ripple’s RLUSD stablecoin is seeing growing integration and partnerships, as is XRP Ledger’s traction in payments and tokenization of real-world assets.
Potential XRP ETF and Ripple banking license approvals, expected in late 2025, provides further optimism.
On the charts, XRP faces immediate support at $2.80, with a deeper safety net in the $2.58 to $2.32 zone. However, if bulls reclaim the $3.00 to $3.40 area as support, a breakout could bring a new ATH into play, with targets of up to $10.
