- XRP dropped 3% despite the launch of the Gemini-Ripple credit card, which aims to boost the token’s real-world utility.
- While the price dip reflects broader market pressure, the partnership underscores Ripple’s push to expand XRP adoption in everyday payments.
XRP slipped 3.2% during the August 25–26 trading window, extending its string of volatile sessions despite a major product launch aimed at expanding real-world utility. The token fell from $3.01 to $2.91 after a wave of institutional liquidations, before recovering slightly above $2.90.
Heavy Selling Pressures XRP
The sharpest selloff came during the 19:00–20:00 GMT window, when XRP dropped from $2.96 to $2.84 on 217.58 million in volume, nearly triple its daily average. Analysts attributed the move to institutional flows, which have been the dominant force shaping XRP’s short-term swings throughout August.
By the end of the session, XRP had clawed back 0.69% to $2.91, but questions remain over whether buyers can regain the upper hand. Broader crypto benchmarks posted modest gains, leaving XRP lagging behind peers amid persistent regulatory uncertainty in the U.S.
Credit Card Partnership With Gemini
In a move to highlight XRP’s utility, crypto exchange Gemini confirmed it has partnered with Ripple to roll out an XRP edition of its credit card, issued by WebBank. The new product offers up to 4% cashback in XRP on fuel, EV charging and rideshare spending, 3% on dining, 2% on groceries, and 1% on general purchases. Select merchants will also offer up to 10% back in XRP, according to Gemini.
The partnership comes at a time when XRP has struggled to convert strong community backing into sustained market momentum. While the credit card bolsters Ripple’s narrative of driving adoption, it has not yet translated into a meaningful boost for price action.
Technical Picture
From a technical perspective, resistance remains firm at $2.96, which coincides with rejection at the upper Bollinger Band. Support has formed in the $2.84–$2.86 zone, aligning with the 20-day moving average.
Momentum indicators suggest stabilization: the Relative Strength Index (RSI) recovered from oversold levels near 42 to the mid-50s, while the MACD histogram narrowed toward a potential bullish crossover. Analysts note that sustained closes above $2.90 could pave the way for a push toward $3.20–$3.30. Conversely, a breakdown below $2.84 risks sending the token toward $2.80 support.
Market Outlook
Traders are divided on the next leg. Bulls are eyeing a run toward $3.70 if institutional absorption continues and volumes normalize. Bears, however, highlight $2.80 as a critical level that could accelerate losses if breached.
Ultimately, XRP’s near-term path hinges on whether large players continue to support bids around $2.89–$2.90. For now, Ripple’s partnership with Gemini has strengthened its utility case — but the price action shows the market wants more than adoption headlines before committing to a rally.
