XRP is experiencing losses as August ends, raising concerns about a potential downtrend in September. A critical support level is identified at $2.80; falling below this could lead to further selling pressure and a potential 25% decline. XRP has already dropped over 22.30% after reaching a peak of around $3.66. Onchain data indicates that significant selling could occur if XRP breaches the $2.80 threshold due to the concentration of supply in that price range. Technical indicators, particularly the MACD, suggest a bearish crossover on the weekly chart, which historically has preceded significant price pullbacks for XRP. If this bearish trend continues, XRP could test the 50-week exponential moving average at approximately $2.17. A decisive drop below both this EMA and the $1.73 Fibonacci level could signal a bear market, with potential lows of around $1.19. Therefore, XRP holders are cautioned that maintaining above key support levels is crucial to avoid further decline. Analysts remain divided, with some predicting a bounce back towards $4 in the near future.

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