Due to the unfavorable PMI report, global stock markets fell, and the XRP price fell below a key support level on September 6. Meanwhile, Ripple Chairperson Chris Larsen and 87 other businesspeople supported Vice President Kamala Harris for the presidency, a move that confused most users as the Biden-Harris administration has been hostile to cryptocurrencies through the Securities Exchange Commission (SEC). The analysis believes that these have made the overall trend of XRP price bearish, and the price has fallen below the key support level of $0.54, and the downward trend is likely to continue.