XRP slides through key levels in a high-volume sale before stabilizing by greater support, with legislative clarity now in place after the Ripple SEC settlement.
Overview of Technical Analysis
The XRP falls 5% in the 24-hour period ending on August 9th and falling from $ 3.34 to $ 3.20 before they got to $ 3.30. The move spans a range of $ 0.17 and marks 5.24% volatility.
Sales of pressure tops between 14: 00-15: 00 when the price collapses from $ 3.36 to $ 3.20 of 209.67 million bind-the largest single-hour press on the session.
Buyers defend the $ 3.20 zone and trigger a rebound to $ 3.33 before 19:00. Resistance forms for $ 3.31- $ 3.33 with support locked to $ 3.20.
News Background
Securities and Exchange Commission and Ripple Labs have officially completed their five-year legal battle and jointly rejected their appeals in the XRP case. The second circuit appeals to the Court recognized the filing, where both parties had their own costs.
“After the Commission’s vote Today, SEC and Ripple formally filed directly to the second orbit to reject their appeals,” said Ripple’s Chief Legal Officer Stuart Alderoty at X.
Summary of Price Action
• XRP falls from $ 3.34 to $ 3.20 between August 8th.
• Buyers defend $ 3.20 support that triggers recovery to $ 3.33 by 19:00
• Resistance builds at $ 3.31- $ 3.33 when profits on the head
Technical indicator analysis
• $ 3.20 confirmed as key support with volume validation of 209.67 million
• Resistance established to $ 3.31- $ 3.33 in the recovery phase
• Bull flag structure formed over $ 3.28, which suggests potential upside continuation if $ 3.33 breaks
• Volume Spike for 1.86 million at. 01:52 indicates targeted accumulation attempts
• 5.24% INTRADAY VOLATILITY HIGHLIGHTS Defined range-bound trade between $ 3.20 and $ 3.33
Which dealers are looking at
• About $ 3.20 is valid on the next gene test in the middle of continued institutional positioning
• Confirmation Confirmation Over $ 3.33 to signal the end of the profit -taking phase
• Follow -up purchases associated with regulatory clarity after settlement
• ETF-related currents from Japan’s SBI archiving and potential waste to US markets
