The XRP rallied towards the $ 3 mark in the previous session, with a trading volume spiking more than 6% above its weekly baseline.
News background
• The XRP rally comes in the middle of a broader crypto stabilization, with altcoins that monitor moderate flow after the drawdown last week.
• On-chain data flagged the institutional flows, with about 155 million in the XRP turnover during recovery, which is over 63 million daily average.
• Market Chatter first suggested that the XRP hit new highs, though the actual all-time peak remains $ 3.84 from January 2018-emphasized that this is a recovery test, not discovering the price.
Summary of price action
• XRP sank 5.1% between $ 2.84 and $ 2.99 to 23-hour window from August 20 13:00 to August 21:00.
• The strongest push came around 19:00 UTC on August 20, when the token advanced from $ 2.84 to $ 2.99 to 80.6 million quantities.
• Subsequent sessions showed integration -together, with repeated bounces at $ 2.89- $ 2.93, confirming it as a temporary support.
• A sharp whipsaw in the last hour (August 21 11: 03–12: 02) saw an 8.6% swing: from $ 2.916 to $ 2.901 to 960,000 units, before stabilizing.
Technical analysis
And Support: $ 2.89– $ 2.93 zone shows a lot of strong bounces above-average participation.
And Resistance: $ 2.99– $ 3.00 psychological ceiling caps momentum; Repeat -rejecting is visible.
And Volume: 80.65 million during the rally compared to a 24 -hour baseline of ~ 63 million.
And Pattern: Sideways Integration -Includes Bullish impulse; Momentum tilting slightly down.
What do entrepreneurs watch
• If $ 2.93 support holds in a short time or gives way to a retest of $ 2.82.
• Breaks above $ 3.00 as a potential trigger for the continuation of the trend.
• Maintenance of volume – if the taper flows, the bulls are at risk of losing control.
