CME Group recently said its Crypto Futures Suite surpassed $ 30 billion in nominal open interest in the first time, with XRP futures crossing $ 1 billion in just over three months – the fastest pace for a new contract.
Wider crypto -atmosphere improved after bold -chairman Jerome Powell’s Jackson Hole notes, increasing the expectations of politics that eased later this year.
XRP continues to act during the shadow of US regulatory uncertainty, even when corporate taxes examine cross -border payment pilots with Ripple’s technology.
Summary of Price Action
From August 26 at. 03:00 to 27 August at. 02:00 the XRP increased 3.60%and increased from $ 2.89 to $ 2.99 within a $ 0.20 intraday ribbon.
The sharpest move came 19:00 GMT on August 26, when XRP pierced $ 3.08 on extraordinary 167.60 million volumes before rejecting at this level.
In the last hour (01: 21-02: 20 GMT on August 27), XRP swung within a corridor of $ 0.13 and consolidated winnings while holding stable near $ 2.99- $ 3.00 zone.
Technical analysis
Support: $ 2.89 remains the key base after several successful gene tests; $ 2.99 now acts as a psychological floor.
Resistance: $ 3.06- $ 3.08 is the ceiling in the short term, reinforced by the heavy rejection of high volume to $ 3.08.
Momentum: RSI recovered after oversets 42 to the mid -50s, which suggests strengthening the almost term trend.
Bind: 167.60 million tokens changed hands under the $ 3.08 test-more than twice the 30-day average-a clear sign of institutional participation.
Patterns: Double Bull flag and rounding bundle structures highlight potential upside, with technicians looking at $ 5.85 as a prolonged target.
Compression: To reduce tops about $ 3.01- $ 3.00 in late trade indicates a spiral setup in front of a directional move.
Which dealers are looking at
Whether $ 2.99- $ 3.00 can have as a solid psychological support.
A confirmed break over $ 3.08 potentially opens a race to $ 3.20 and above.
Risks have been withheld if $ 2.84 is violated by $ 2.80 as the next key level.
CME Open interest growth and institutional currents are closely monitored for confirmation of persistent momentum.
