XRP Slides Below $3 as Volume Triples, Bearish Momentum Strengthens
XRP posted a 4.2% decline in the 24-hour session ending August 6 at 02:00, falling from $3.06 to $2.93 as selling pressure accelerated on surging volume. The move signals a potential shift in short-term market structure, with new resistance forming and support levels being tested.
Volume-Led Breakdown
The sharpest drop came at 14:00, when XRP fell from $3.04 to $2.97 on a spike in trading volume that reached 169.41 million—over three times the 24-hour average of 52.73 million. This established $3.04 as a key resistance level and confirmed $2.93 as a near-term support floor, according to CoinDesk Research technical data.
Late-Session Weakness Confirms Bearish Bias
A final-hour decline took XRP from $2.94 to $2.92, capped by a 1.6 million volume burst at 02:11. The session saw an intraday swing of $0.13, with a high of $3.08 and low of $2.93. Price consolidation has since narrowed into the $2.96–$2.97 range.
Technical Outlook
The rejection at $3.04, coupled with failure to hold above $3.00, reinforces downside risk. Short-term moving averages are trending lower, and elevated volume during the selloff supports a bearish continuation scenario. If $2.93 breaks, historical volume nodes point to $2.87 and $2.80 as potential next support zones.
Traders Watching Key Levels and Macro Sentiment
- Resistance: $3.04
- Support: $2.93 (key), followed by $2.87 and $2.80
- Consolidation zone: $2.96–$2.97
Market participants are closely watching for a reclaim of the $3.00 level or signs of bullish divergence on intraday indicators. Broader macro risks, including geopolitical tensions and renewed trade uncertainty, continue to weigh on sentiment.
