Sep. 1 at 8:26 PM
$XRPM Primary reason: Broader market pullback, as Bitcoin fell 2.11% and total crypto market cap dropped 1.94%, driven by rising rate hike expectations and geopolitical tensions.
Secondary reasons: A scheduled 1 billion XRP escrow unlock introduced potential supply overhang concerns, coinciding with a technical break below the
$1.35 support level.
Near-term market outlook: If XRP holds above the 38.2% Fibonacci retracement at
$1.42, it could target
$1.45–
$1.55; a sustained break below
$1.35 risks a drop toward
$1.30, especially if ETF inflows stall