XRP Briefly Breaks $3 as Trading Volume Surges, but Profit-Taking Halts Rally
XRP rallied 6% between August 3 at 03:00 and August 4 at 02:00 (UTC+7), climbing from $2.83 to a high of $3.03 before retreating slightly to close at $3.00. The surge was powered by breakout momentum and elevated institutional flows, but profit-taking at resistance capped further upside.
Key Metrics:
- Price Range: $2.83 to $3.03 (+7.4%)
- Close: $3.00
- Volume: Topped 110M vs. 52.2M 24H average
- Resistance Zone: $3.00–$3.03, rejected multiple times
- Breakout Levels: $2.87, $2.92, $2.97
- Late Pullback: XRP slipped 1% in the final hour, forming a descending top pattern
Market Drivers:
The move came as part of a broader altcoin rotation amid equity market weakness and lingering macroeconomic uncertainty. Traders sought upside exposure in volatile assets as global inflation remains sticky and central banks strike a cautious tone on monetary policy.
XRP’s rally was driven by strong inflows and momentum-driven breakouts but lost steam at the psychologically significant $3 mark. The resistance triggered a wave of profit-booking, sending the token back toward short-term support.
Technical Snapshot:
- Support: $2.82, confirmed by consolidation and volume-backed buying
- Resistance: $3.03, where sellers dominated
- Intraday Pattern: Descending highs at $3.03, $3.02, and $3.01
- Momentum: Faded late in session; failed rebound at $3.01
- Volume Behavior: Breakout and reversal phases saw institutional-sized prints
- Session Close: Trading activity froze in final minutes, indicating end-of-day position locking
Outlook:
XRP remains in a short-term uptrend but faces headwinds near the $3.00–$3.03 resistance zone. A clean break above this level could reignite upside momentum, while failure to hold above $2.82 may signal further consolidation ahead.
