BlackRock has officially confirmed it has no plans for an XRP ETF, tempering market excitement after Ripple’s recent legal progress.
Meanwhile, the Independent Community Bankers of America (ICBA) has filed a formal objection to Ripple’s national trust bank application, raising compliance concerns and rekindling debates over XRP’s acceptance in traditional finance.
Analyst EGRAG Crypto points to the XRP Dominance Chart as a critical guide for the next price moves. His key levels include:
According to EGRAG, surpassing these dominance thresholds could signal a strong multi-month uptrend, with the potential to repeat previous parabolic phases seen in 2017.
XRP has slipped below its $3.26 support, turning it into resistance. A death cross has formed on the 4-hour chart, with the 50 SMA crossing under the 200 SMA. RSI sits at 53.08 on shorter time frames, showing neutral momentum, while the MACD histogram remains slightly negative, suggesting bears still have control.
If the price fails to reclaim $3.26, immediate support lies at $3.08, with a deeper pullback possibly targeting $2.88.
On-chain data shows mixed whale behavior. Roughly 94 million XRP (around $308 million) flowed into exchanges in the last 24 hours, hinting at potential selling pressure. At the same time, another large wallet accumulated 50 million XRP during the recent dip, signaling some confidence in a rebound.
While short-term technicals lean bearish, EGRAG’s dominance analysis suggests XRP could be on the verge of a breakout if it reclaims critical levels. The August 15 SEC-Ripple case update and further regulatory filings from the ICBA will likely shape sentiment heading into the next cycle.
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