The XRP gathered against the $ 3 mark in the previous session, with trading volume that spiked more than 6% over its weekly baseline.
News Background
• XRP’s rally comes in the midst of wider cryptodabilization, with Altcoin’s tracking of modest influx after last week’s draw.
• On-Chain data marked institutional size streams with nearly 155 million in XRP revenue in recovery periods, well above the 63 million daily average.
• Initially, Market Taxes suggested that XRP hit new heights, though the actual peak all-time remains $ 3.84 from January 2018-underlined that this is a recovery test, not price discovery.
Summary of Price Action
• XRP swung 5.1% between $ 2.84 and $ 2.99 in the 23-hour window from August 20, 13:00 to 21 August 12:00.
• The strongest push came around 19:00 UTC on August 20, as the token rose from $ 2.84 to $ 2.99 of 80.6 million volume.
• Subsequent sessions showed consolidation with repeated jumps in the range $ 2.89- $ 2.93, which confirmed it as preliminary support.
• A sharp whip saw in the last hour (August 21, 11: 03–12: 02) experienced an 8.6% swing: from $ 2,916 to $ 2,901 of 960,000 units before stabilizing.
Technical analysis
• Support: $ 2.89- $ 2.93 zone shows several strong terminations upon participation above average.
• Resistance: $ 2.99- $ 3.00 psychological ceiling caps Momentum; Repeated refusal visible.
• Bind: 80.65 million under Rally vs. A 24-hour baseline of ~ 63 million.
• Pattern: Sideways consolidation after bullish impulse; Momentum tilts slightly down.
Which dealers are looking at
• About $ 2.93 support is valid in the short term or gives way to a gene test of $ 2.82.
• Break over $ 3.00 as a potential trigger for trend conditions.
• Volume Sustainability – If Flower Taps, Bulls risk losing control.
