- XRP’s rally tested the $3 mark with trading volume spiking more than 6% above weekly levels.
- $2.93 support has held firm so far, while $3.00 remains the key resistance to watch.
- A decisive breakout with sustained volume could signal further upside, while fading momentum risks a pullback toward $2.82.
XRP rallied toward the $3 level in the latest session, with trading volume jumping more than 6% above its weekly average—hinting at renewed institutional flows. Despite the push, the token stalled just under the key $3 barrier, with traders now debating whether support around $2.93 will hold, or if a clean breakout above $3 could spark another leg higher.
Market Background
The move comes as the broader crypto market steadies after last week’s pullback. Altcoins are showing modest inflows again, and on-chain data flagged nearly 155 million in XRP turnover during recovery periods—well above its 63 million daily average. Some market chatter suggested XRP was nearing fresh all-time highs, but the true peak remains $3.84 from January 2018, meaning this is still a recovery test rather than new price discovery.
Price Action Recap
In the 23-hour window from Aug. 20 (13:00 UTC) to Aug. 21 (12:00 UTC), XRP swung 5.1% between $2.84 and $2.99. The strongest surge came around 19:00 UTC on Aug. 20, when price ripped from $2.84 to $2.99 on more than 80 million in volume. Afterward, sessions cooled into sideways action, with repeated bounces in the $2.89–$2.93 zone, marking it as short-term support.
The final hour of trading saw a sharp whipsaw—an 8.6% swing from $2.916 to $2.901 on 960,000 units—before stabilizing back into consolidation.
Technical Setup
- Support: $2.89–$2.93 zone has shown multiple strong bounces with above-average volume.
- Resistance: $2.99–$3.00 remains a stubborn ceiling, with repeated rejections.
- Volume: 80.6 million during the rally, compared to the ~63 million baseline.
- Pattern: Sideways consolidation after a bullish impulse, momentum leaning slightly downward.
What Traders Are Watching
- If the $2.93 support zone holds, or whether a dip toward $2.82 is on deck.
- A breakout above $3.00 as the next potential trigger for continuation.
- Whether volume stays elevated—if flows taper, bulls risk losing control.
