XRP has been hit hard in recent trading sessions, falling around 15% since both Ripple and the SEC decided to withdraw their appeals in their ongoing legal battle. The cryptocurrency is now testing crucial support levels around $2.80 as investors lose confidence in near-term catalysts.
🚨BOOOOOM
The XRP case is officially over and announced by the SEC
I told you huge news was coming but you didn’t listen. pic.twitter.com/kjJLTPhMa9
— BALE (@AltcoinBale) August 11, 2025
The decline comes as hopes for quick XRP exchange-traded fund approvals begin to fade. The Securities and Exchange Commission recently delayed decisions on similar products until October, which has reduced expectations for XRP-based funds launching anytime soon. Additionally, Ripple’s application for a US banking license remains pending, with regulators having until October to make their decision.
Bitcoin is also struggling, dropping below the important $114,000 support level for the first time since early August. The world’s largest cryptocurrency closed around $113,681 as uncertainty grows about Federal Reserve policy decisions ahead of the Jackson Hole meeting.
Market sentiment has turned increasingly bearish as Bitcoin exchange-traded funds continue experiencing significant outflows. Major funds reported combined outflows exceeding $500 million in recent sessions, adding to selling pressure across the broader cryptocurrency market.
The upcoming Fed Chair speech (where the head of America’s central bank talks about interest rates and economic policy) and October regulatory deadlines could prove pivotal for cryptocurrencies’ future direction.
Conclusion
XRP and Bitcoin’s big drops show market worry about delayed rules and Fed choices. With important decisions pushed to October and money flowing out of funds, both coins face tough times ahead.
Also Read: Bitcoin in Mild Danger
