XRP Stabilizes Above $3.10 After 10% Drop, Signs Point to Bottoming Formation
Volume Spikes, Higher Lows Fuel Recovery After Sharp Selloff
XRP has begun to recover from a sharp 10.14% drop that saw the token fall from $3.45 to $3.10 in the 24-hour session ending July 24 at 11:00 GMT. Selling pressure peaked late on July 23, with XRP breaking through key support at $3.20 before bottoming at $2.96 in early trading on July 24.
From there, a solid intraday rebound followed, supported by elevated trading activity and the formation of a short-term bullish structure. XRP managed to reclaim the $3.10 level into the close, suggesting renewed demand and potential accumulation at lower levels.
Institutional Demand Emerges as Volumes Surge
Trading volume exceeded 175 million during the session—well above average—highlighting significant market participation as XRP entered oversold territory. A strong rally in the final hour pushed the token from $3.10 to $3.11, driven by a 5.6 million volume spike, the session’s most active period.
A key breakout between 10:46 and 10:48 GMT lifted prices from $3.06 to $3.09, reinforcing momentum and supporting the case for a near-term reversal. Throughout the rebound, XRP posted a clear sequence of higher lows, from $2.96 to $3.11, indicating strengthening market structure.
Key Technical Levels
- Range: $2.96 low to $3.45 high—a $0.49 swing
- Support: $3.10 reestablished as short-term support
- Resistance: $3.23–$3.25 remains a near-term barrier
- Breakout Trigger: A move above $3.15 could confirm trend reversal
- Volume Confirmations: 4.6M transactions at $3.06–$3.07 and 5.6M in final minutes support bullish bias
Buyers defended the $3.06–$3.07 zone multiple times during the recovery window, signaling growing demand at that level. Price action suggests a shift in sentiment following the steep correction.
Outlook: Can XRP Hold the Line and Push Higher?
With higher lows in place and $3.10 holding as support, traders are watching for a break above $3.15 to validate the recovery. A sustained move through the $3.23–$3.25 resistance zone would strengthen the bullish case and could open the door to further upside.
Market participants are also monitoring the $3.00–$3.10 range for signs of continued institutional accumulation. Broader sentiment, along with upcoming regulatory developments in the U.S., will likely influence the next leg of price action.
For now, XRP’s rebound off sub-$3 levels and its ability to reclaim key technical zones points to a tentative bottom—though confirmation depends on whether bulls can follow through in the sessions ahead.
