Dealers support continued disadvantage as resistance caps for $ 3.04 and $ 2.93 floor occur after 169 m volume flush.
What to know
The XRP fell 4.2% during the 24-hour session, which ended on August 6 at 1 p.m. 02:00, and withdrew from $ 3.06 to $ 2.93 in a volume -driven collapse. The height of the session of $ 3.08 was hit at 1 p.m. 10am, before a sharp reversal began. Price action accelerated at. 14:00, as XRP fell from $ 3.04 to $ 2.97 on a 169.41 million volume wave-over 3x its 24-hour average of $ 52.73 million $ 3.04 as an interim resistance and validation $ 2.93 as a local support floor.
Final Price action confirmed Bearish control. XRP slipped 1% from $ 2.94 to $ 2.92 between 01:15 and 02:14, where he completed a high volatility session that saw a $ 0.13 turn or 4.2% intraday interval. A volume at the end of 02:11 sealed the decrease of 1.6 million decreased as the token printed fresh intraday -low.
Summary of Price Action
- XRP traded within a range of $ 0.13 between $ 3.08 and $ 2.93.
- The price collapsed 4.2% of 169.41 million total volume.
- Maximum decline occurred between 14:00 and 15:00 with the highest hourly sealing volume.
- The last hour experienced 1% additional disadvantage, led by a 1.6 million trade at. 02:11.
- Resistance caps for $ 3.04; Support forms for $ 2.93.
- Consolidation area now sits between $ 2.96 and $ 2.97.
Technical analysis
Price structure confirms rejection of $ 3.04 with immediate disadvantage to $ 2.93 on volume above average. The violation of short -lived moving average and failure to maintain over $ 3.00 points to the continuation risk. Volume spikes under key -sale windows support it bearish bias.
Volatility remains elevated without clear reversing signals printed. If $ 2.92 fails, next support zones are near $ 2.87 and $ 2.80 based on historic volume nodes.
Which dealers are looking at
- Recovery of $ 3.00 Psychological Level and Defense of $ 2.93 Zone.
- Whether Bullish the divergence appears on indicators of intraday omentum.
- Wider market impact from macro-risk-off mood driven by geopolitical tensions and renewed trade instability.
