TLDR
- Gemini launches limited-edition XRP credit card offering 4% cashback in XRP
- XRP price drops below $3, down nearly 5% in 24 hours amid broader crypto sell-off
- Key support levels identified between $2.97 and $2.84 for potential price direction
- Trading volume surges 119% to $12.58 billion showing increased investor interest
- Large XRP holders continue accumulating, with whales now holding 10.6% of total supply
XRP faces price pressure as it drops below the $3 mark while Gemini introduces new ways for users to earn the cryptocurrency through everyday spending. The digital asset currently trades around $2.95 after experiencing a decline during the weekend crypto market sell-off.
Gemini recently unveiled its “Gemini Credit Card – XRP Edition,” a metal rewards card that allows holders to earn 4% cashback in XRP. The card targets specific purchase categories including fuel, electric vehicle charging, and rideshare services. WebBank issues the credit card as part of Gemini’s expanded crypto rewards program.
Meet the @Gemini Credit Card XRP Edition
pay with $, earn eXtra Rewards back on your Purchases:
→ 🚗 4% XRP on gas, charging and rideshare
→ 🍽️ 3% XRP on dining
→ 🛒 2% XRP on groceries
→ 📶 1% XRP on everything elseAvailable Today, Limited Edition, US-Only, Apply Now ↓ https://t.co/G6qq1nRFZv
— RippleX (@RippleXDev) August 25, 2025
The timing coincides with Gemini’s broader integration of Ripple’s ecosystem. The exchange is expanding access to Ripple USD (RLUSD) for customers in the United States. This development represents another step in making crypto more accessible for daily transactions.
Ripple CEO Brad Garlinghouse commented on the partnership, stating that 55 million Americans own cryptocurrency. He emphasized the growing demand for easier ways to access and use digital assets in everyday life. The collaboration aims to turn routine spending into opportunities to earn XRP.
Market Performance Shows Mixed Signals
XRP’s recent price action reflects broader market conditions. The cryptocurrency dropped nearly 5% over 24 hours as part of a widespread sell-off affecting major digital assets. Bitcoin fell below $110,000, while Ethereum risks dropping below $4,400 after recently setting new highs above $4,900.
Despite the price decline, trading metrics reveal increased activity. XRP’s 24-hour trading volume jumped 119% to reach $12.58 billion. This surge indicates renewed investor interest despite the downward price movement.
Open interest data shows a different picture. Positions decreased slightly by 0.90% to $8.27 billion, suggesting some traders are closing positions. The weighted funding rate sits at 0.0115%, indicating balanced market sentiment overall.
Technical analysis points to key price levels that could determine XRP’s next direction. Crypto analyst Man of Bitcoin identified crucial support between $2.97 and $2.84. These levels may decide whether the current price pattern continues or changes course.
$XRP price has invalidated the direct move to the downside. However, a diagonal pattern is still on the table.
Support to keep the yellow scenario alive is between $2.97 and $2.84. pic.twitter.com/iXBQIxzjkW— Man of Bitcoin (@Manofbitcoin) August 24, 2025
The analyst noted that XRP’s immediate downward movement was invalidated, suggesting some stability. However, a diagonal formation remains in progress, requiring close monitoring of the support levels.
Whale Activity Supports Long-term Outlook
Large XRP holders continue accumulating despite recent price weakness. Data from Santiment shows addresses holding between 1 million and 10 million XRP now control approximately 10.6% of the total supply. This represents growth from 9.8% in early July and 9.14% in March.
🚀 XRP Whales are loading up! 🤯🤯
From 7.51B → 7.76B XRP in just 8 days 🐋🔥
Wallets holding 10M–100M XRP keep stacking, showing massive confidence 💎🙌Something BIG is brewing for $XRP pic.twitter.com/MunUk9UhUN
— Xaif Crypto🇮🇳|🇺🇸 (@Xaif_Crypto) August 24, 2025
The continued whale accumulation suggests confidence in XRP’s longer-term prospects. These large holders typically have access to detailed market analysis and maintain positions based on fundamental developments rather than short-term price movements.
Current price action shows XRP recovering from a low of $2.82 reached during the recent sell-off. The cryptocurrency now trades around $2.95 with analysts watching for potential moves toward the $3.10 resistance level.
If recovery continues, XRP could target the $3.10 level before potentially advancing toward $3.40. However, persistent selling pressure could push the price to retest last week’s low of $2.77, with stronger support expected at $2.72.
The combination of new use cases through the Gemini credit card and continued whale accumulation provides fundamental support even as technical factors suggest caution in the near term.
