XRP experienced a 3% drop over the August 25–26 trading window, despite increased attention around real-world use cases, including the recent launch of the Gemini-Ripple credit card. The price fell from $3.01 to $2.91 as heightened institutional sell-offs and persistent volatility weighed on sentiment.

Volatility, Whale Activity, and Regulatory Concerns

The token has struggled to sustain levels above $3.00 throughout August, facing sell pressure from large wallets and fluctuating institutional flows. This month’s consistent volatility has made conditions especially difficult for retail traders attempting long positions. While other cryptocurrencies in the broader market posted modest gains, XRP continued to lag behind, still burdened by ongoing regulatory uncertainty in the United States.

Gemini-Ripple Credit Card Adds XRP Utility

Amid the market turbulence, Gemini, the crypto exchange led by Cameron and Tyler Winklevoss, announced a significant collaboration with Ripple. The two companies have launched a special XRP-themed credit card, backed by WebBank. This partnership underscores a key narrative push toward utility for the digital asset, integrating XRP into real-world purchases.

The credit card rewards users with cashback in XRP, offering a tiered system:

• 4% on fuel, EV charging, and rideshares
• 3% on dining purchases
• 2% on groceries
• 1% on all other categories

Gemini further revealed efforts to partner with select merchants to offer bonus rewards of up to 10% on qualifying purchases, aiming to drive broader retail adoption of XRP through incentivized spending.

Price Trends and Trading Dynamics

The 24-hour period saw XRP fall 3.24%, with a trading range stretching 9%—from $2.91 to $3.01. The steepest declines occurred in the 19:00–20:00 GMT window, as XRP dropped from $2.96 down to $2.84 amid a surge in trading volume. A total of 217.58 million tokens changed hands during that hour, nearly triple the daily average of 72.45 million.

However, the token showed signs of stabilizing late in the session. In the final trading hour, XRP rose modestly from $2.89 to $2.91, with institutional flows reaching an average rate of 641,000 per minute. While a rebound was evident, it stopped short of reclaiming the $3.00 level, leaving traders uncertain about the short-term trajectory.

Technical Outlook and Pivotal Price Levels

From a technical analysis perspective, XRP is currently trending within a narrow band defined by key support and resistance levels:

• The $2.96 resistance coincides with a rejection at the upper Bollinger Band.
• Support has formed between $2.84 and $2.86 — aligning with the 20-day moving average.
• An accumulating pattern is visible around $2.89, with the Relative Strength Index (RSI) improving from oversold territory near 42 to mid-50s, pointing to potentially strengthening momentum.
• MACD histograms are narrowing toward a bullish crossover, indicating a possible shift in short-term momentum.

To initiate another leg up, XRP would need to maintain levels above $2.90, opening the door toward $3.20–$3.30. Conversely, failure to sustain support at $2.84 could trigger a slide toward the next critical support at $2.80.

Traders Focus on Institutional Support and Next Moves

Market watchers are closely monitoring price action to determine whether momentum can build. Bulls are eyeing a potential move toward the $3.70 mark if trading volumes normalize and institutional participation persists. On the bearish side, a breakdown below $2.80 could quicken the pace of losses.

Ultimately, whether or not large players continue to support bids near the $2.89–$2.90 zone could determine the asset’s short-term direction. This area of accumulation may act as a critical pivot point for XRP in the coming sessions.

Related: XRP Price: $12M Max Pain for Bears

Ripple and Gemini partnered to launch a credit card offering real-world XRP rewards, adding practical value to the token.