Overview

A bullish breakout at the 17:00 trading hour on August 18 propelled XRP prices from $2.97 to $3.10, with a robust trading volume of 131 million—twice the average of 66.8 million.

Key Highlights

• XRP ended Monday’s trading day close to $3.00 following a sudden downturn, suggesting significant institutional selling.
• The market showed approximately 4% volatility, with a notable peak when prices reached $3.10 before retracting.
• Resistance Level: $3.09
• Support Level: $3.00

Market Dynamics

XRP’s price dipped towards $3.00, facing selling pressure, where it experiences stop-loss liquidations and increased trading activities. Despite an earlier bullish momentum, a rejection at the $3.09 resistance point indicates persistent market pressure.

Technical Analysis Summary

• Trading Range: $0.11 (3.8%) between the peak of $3.10 and the trough of $2.94
• Risk: If XRP fails to hold above $2.99, a pullback towards the $2.96 demand zone may occur.

XRP’s market behavior reflects a significant balancing act, with current stability leaving open potential re-tests of higher resistance around $3.08–$3.09 or risks deeper corrections.