The XRP swung nearly 6% in a fleeting 24-hour session that rebounding from steep loss to $ 2.82 to settle for $ 2.93. The move was driven by an increase in volume and aggressive support purchases, even when whales read and wider markets absorbed $ 360 million in liquidation.
News Background
- XRP has been subjected to the sale of pressure in the midst of a downgrade of blockchain security that raised concerns about potential vulnerabilities.
- Whale cohorts have been active on both sides – some accelerating sales in competitions, while other defended critical support levels.
- Wider crypto markets experienced $ 360 million in liquidation as institutions rotated out of risk assets weighing mood across majors and memcoins.
- Technical analysts continue to point to $ 3.17 as the breakout zone that could unlock a sharp rally against $ 5.00+, although Bearish Lejre warns of a slot for $ 2.65 if supports break.
Summary of Price Action
- XRP swung 5.69% between 20 to 21 August and cut a range of $ 0.17 from $ 2.82 to $ 2.99.
- The token collapsed to session low during 13: 00–15: 00 UTC window, before staging a sharp counter -attack back to $ 2.93.
- Volume spiked to 155 million during 14.00 Recovery time – almost tripled the 63 million daily average.
- Bears defended $ 2.99 resistance aggressively, but bulls anchored bid of $ 2.82 and forced a late session rally.
- The XRP closed the session of $ 2.93, Momentum tilted against bulls by strong volume confirmation.
Technical analysis
- Support zone: Buyers defended $ 2.82 with high conviction and validated the floor on elevated currents.
- Resistance wall: Sellers closed movements to $ 2.99 and set a clear ceiling.
- Volume wave: 155 million revenue during recovery-2.5x daily average marker institutional size purchases.
- Intradag -pattern: V-shaped reversing from $ 2.82 to $ 2.93 signalizing accumulation interest.
- Morning session: XRP extended winnings by 0.34%, climbing to $ 2.94 with hourly volumes of 580,000 against a 470,000 norm.
- Momentum Outlook: Persistent bidding flows to $ 2.92- $ 2.93 suggest the breakout pressure is building.
Which dealers are looking at
- Whether XRP can crack and hold over $ 2.99 and unlock $ 3.17 as the next breakout goal.
- Continued Humor Positioning Tenses – Especially Signs of Distribution Vs. Accumulation around $ 3.00.
- Wider market gaming, with liquidation and institutional risk appetite that dictates streams in the short term.
- If $ 2.82 is holding additional tests, set a durable floor in front of possible upside extension.
