XRP Surges 9% Before Pullback Caps Rally Near $3
News Background
XRP advanced sharply during the August 22–23 session, testing multi-month resistance near $3.10 after weeks of sideways trading.
The move coincided with dovish commentary from Federal Reserve Chair Jerome Powell at Jackson Hole, which reinforced expectations of a September rate cut and lifted risk sentiment across digital assets.
On-chain settlement volumes on the XRP Ledger surged 500% earlier this week, adding to optimism around institutional adoption despite ongoing whale distribution.
Price Action Summary
• XRP gained 8.56% across the 23-hour session from August 22 at 11:00 to August 23 at 10:00, climbing from $2.83 to $3.03.
• The token swung between $2.79 and $3.10, creating an 11% intraday range.
• The breakout occurred at 14:00 UTC on August 22, with XRP surging from $2.84 to $3.03 on 667.4 million volume—five times session averages.
• Late-session volatility capped the move, with XRP retreating 0.47% in the final hour to settle near $3.01.
• Support has consolidated around $2.97–$3.00 while resistance remains firm at $3.08–$3.10.
Technical Analysis
• Breakout levels: $2.84–$2.97 accumulation zone triggered upside impulse on high volume.
• Resistance: Strong supply pressure emerged at $3.08–$3.10, rejecting further advance.
• Support: New floor forming at $2.97–$3.00 psychological level, repeatedly defended intraday.
• Volume: Breakout candle logged 667.4 million trades, 72% above weekly average.
• Structure: Pattern resembles continuation setup if $3.00 holds, though fading volume late in the session suggests consolidation before next leg.
What Traders Are Watching
• Whether $3.00 support holds during profit-taking, or if a deeper retrace tests $2.95.
• Breakout confirmation above $3.08–$3.10 zone, which could open path toward $3.25.
• Fed policy signals ahead of September meeting, and impact on risk asset flows.
• On-chain activity, which has surged to 844 million tokens settled in a single day, signaling enterprise adoption potential.
• Whale flows, as recent exchange deposits continue to weigh on intraday momentum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solana’s proprietary AMMs are reshaping liquid asset markets for users
Prop AMMs like SolFi, HumidFi and Obric are taking over liquid capital markets

Pennsylvania Bill Proposes Jail for Crypto-Holding Officials
Federal Reserve Impact Sparks Crypto Market Surge
U.S. GENIUS Act Prompts ECB Digital Euro Acceleration
Trending news
MoreCrypto prices
More








