Overview
XRP rose by 2.81% to $3.29 within a 24-hour timeframe, with a session peak at $3.33 due to an influx of institutional trading. Ripple’s recent settlement with the SEC has enhanced corporate treasury flexibility, although growth in new wallet users remains slow. Positive market sentiment persists as XRP stabilizes above $3.20, despite encountering resistance at $3.33.
Technical Analysis
- XRP increased 2.81% from $3.20 to $3.29 during the period ending August 13, 14:00.
- The price peaked at $3.33 at 13:00 with a volume of 193.90M, significantly higher than the average of 81.50M. This indicates strong institutional interest.
- Late-session activity showed volatile trading, with price fluctuations from $3.27 to $3.32, before a drop as larger holders took profits, closing at $3.28.
Market Context
Ripple’s agreement with the SEC has cleared a long-standing compliance issue, thereby boosting treasury flexibility for companies. This development has replaced uncertainty with renewed confidence among existing investors, although on-chain metrics indicate limited wallet growth.
Summary of Price Action
- XRP gained 3% shifting from $3.20 to $3.29 in the timeframe from 15:00 on August 12 to 14:00 on August 13.
- A high of $3.33 confirms ongoing institutional engagement, while support remains positioned at $3.20 with resistance at $3.32-$3.33.
- Several price declines in profit-taking contexts, particularly from $3.32 to $3.26, reveal active selling behaviors in supply regions.
Key Indicators for Traders
- Efforts are underway to surpass $3.33 towards $3.40.
- The ability of $3.20 support will be tested in upcoming profit-taking phases.
- Stakeholders will monitor the effects of sustained corporate treasury activities post-settlement.
