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XRP Faces Bearish Pressure with 17% Drop from July Peak Amid Warning Signals

XRP has retraced 17% from its July high of $3.65, trading at $2.99 amid multiple bearish technical indicators. The appearance of an MVRV death cross—a historically negative signal—suggests potential for deeper price correction despite neutral market sentiment.

Market activity shows declining spot volume, with XRP trading volume falling 23% to $4.83 billion. Derivatives markets saw marginal growth as open interest edged up 2%.

Technically, XRP trades below critical short-term moving averages at $3.02 (10-day EMA) and $3.01 (20-day EMA). The Relative Strength Index holds neutrally at 51.29 while Stochastic RSI flashes oversold conditions. Support levels form near $2.95 and $2.75, with resistance emerging at $3.20; a decisive breakdown below $2.75 could accelerate losses toward $2.50.

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