Why is XRP down today (September 20)?
XRP is trading at $2.98, down about 1.67% on the day, as selling pressure builds near the psychological $3 threshold.
Traders who entered during the recent rally are taking profits, contributing to the decline. On-chain data suggests that large holders (“whales”) have sold tens of millions of XRP, amplifying downside pressure and weakening support levels. The combination of profit-taking and whale activity has created a supply overhang in the market. As a result, XRP has drifted back under $3, with buyers hesitant to re-engage until new catalysts emerge.
Short positioning and technical resistance cap upside
The derivatives market is also weighing on XRP, with rising open interest concentrated in short positions. This indicates that many traders are betting on further declines, adding a bearish undertone to sentiment. At the same time, XRP is facing stiff resistance between $3.00 and $3.10, a zone that has repeatedly repelled bullish attempts. Technical traders often sell into such resistance when momentum stalls, compounding the pullback. Failure to decisively clear these levels has reinforced skepticism among both retail and institutional participants.
Analyst Karapetjanc: macro softness adds to near-term weakness
According to Viktoras Karapetjanc, today’s decline reflects a convergence of tactical and macro factors. He highlights that profit-taking, whale selling, and short-heavy derivatives flows are intensifying near-term weakness.
Karapetjanc stated:
“Bearish pressures from large holders and short-position accumulation are warning signals — the risk is that if macro or regulatory news turns sour, XRP could test lower supports. But absent negative catalysts, this dip might attract dip-buyers.”
The inability to break through critical resistance zones is also inviting more sellers than buyers. Beyond technicals, he notes that broader crypto softness and macroeconomic concerns—from inflation risks to interest rate uncertainty—are weighing on risk assets, including XRP. In his view, these pressures explain why XRP slipped back below $3 today and could keep near-term momentum subdued unless fresh bullish catalysts appear.
Recently we wrote that Bitcoin's dominance in the cryptocurrency market remains strong at 55.8%, while Ethereum accounts for about 13.1%.
Latest XRP News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
