XRP key support is in jeopardy, BTC falls below 115,000! Will the selling wave continue?

The Crypto Assets market is under pressure again today, with XRP having cumulatively fallen 15% since Ripple and the SEC withdrew their appeal, currently approaching the key support level of 2.8 USD. Bitcoin (BTC) has also broken below the 115,000 USD support, reaching 112,881 USD, with market sentiment affected by the delay of the ETF, macroeconomic uncertainty, and capital outflows.

XRP sell-off intensifies, $2.8 becomes a key defense line

(Source: Trading View)

After Ripple and the SEC jointly withdrew their appeal, XRP lost its short-term upward momentum, with the price falling 15% from its peak.

ETF latency: The SEC has decided to postpone the SOL spot ETF decision to October, and the market believes the possibility of XRP ETF being approved early has decreased.

Bank License Application: Ripple's U.S. charter bank license is still under review, and the OCC is expected to make a decision in October.

Legislative Progress: The CLARITY Act has been postponed to September due to Congress recess.

Technical analysis shows that if XRP falls below $2.8, it may test the August 3 low of $2.7254; conversely, if it can break through the psychological resistance of $3, it is likely to challenge $3.10.

Ripple Long-term Positive: SWIFT Alternative Layout

Despite short-term pressure, Ripple CEO Brad Garlinghouse predicts that Ripple is expected to capture 14% of SWIFT transaction volume in the next five years.

This means that XRP has great potential for application in the field of cross-border payments and international settlements, and may become an important foundation for price support in the long term.

BTC falls below 115,000 USD, pressure from ETF capital outflows increases

(Source: Trading View)

Bitcoin has closed below $115,000 for the first time since August 5 and has fallen to $112,881 today.

ETF fund outflows continue to widen:

Fidelity FBTC net outflow of 246.9 million USD

Gray scale GBTC net outflow of 115.5 million USD

Bitwise BITB net outflow of 86.8 million dollars

ARK 21Shares ARKB net outflow of $63.3 million

The total outflow of the US BTC spot ETF has reached 523.3 million USD, and it may record a net outflow for the third consecutive day.

Macroeconomic Variables: FOMC and Powell's Speech in Focus

The market is paying attention to Powell's speech at the Jackson Hole seminar on August 22.

Hawkish risk: If there are hints of delaying interest rate cuts, it may strengthen the dollar and suppress BTC and risk assets.

Doveish opportunity: If multiple rate cut signals are released, it may drive BTC back above $120,000.

In the short term, BTC needs to hold the psychological support at $110,000; otherwise, it may trigger a deeper correction. In a bullish scenario, BTC is expected to challenge the historical high of $123,731.

Conclusion

XRP and BTC are currently in a critical price battle. XRP's $2.8 support and BTC's $110,000 psychological level will determine market trends in the coming days. Investors should closely monitor ETF fund flows, macroeconomic data, and policy signals, and be prepared for both bullish and bearish scenarios.