XRP Approaches $3 as Trading Activity Surges and Institutional Flows Reappear
XRP climbed toward the $3 mark in the latest session, driven by a noticeable uptick in trading volume and a surge in large-scale on-chain activity. Nearly 155 million XRP changed hands during the recovery window — more than double the typical daily average of 63 million — pointing to renewed interest from institutional players.
Market Drivers
- The move aligns with a broader stabilization across digital assets, with altcoins recovering on modest inflows following the prior week’s pullback.
- On-chain analytics platforms flagged the return of institutional-sized transactions, helping XRP outperform short-term peers.
- Some market chatter misinterpreted the rally as a move into uncharted territory; however, XRP’s all-time high of $3.84, set in January 2018, remains intact — underscoring that this is a rebound, not a breakout.
Intraday Action
- Between 13:00 UTC on Aug. 20 and 12:00 UTC on Aug. 21, XRP fluctuated within a 5.1% band, ranging from $2.84 to $2.99.
- The most aggressive buying emerged around 19:00 UTC on Aug. 20, when price surged from $2.84 to $2.99 on 80.6 million XRP in volume.
- Consolidation followed, with repeated tests and rebounds off the $2.89–$2.93 level — establishing it as the current short-term support.
- The final hour of trading saw volatility spike again, with an 8.6% swing from $2.916 to $2.901 on 960,000 XRP volume before the market settled.
Technical Setup
- Support: The $2.89–$2.93 range has held firm under pressure, backed by solid volume and consistent rebounds.
- Resistance: The $2.99–$3.00 area is acting as a ceiling, with bulls struggling to build momentum beyond it.
- Volume: Daily turnover peaked at 80.65 million XRP, well above the 24-hour average of approximately 63 million.
- Pattern: After a sharp move higher, XRP has entered a sideways consolidation phase, with short-term momentum turning slightly cautious.
Key Watchpoints
- Can $2.93 continue to hold as support, or will sellers force a retest of the lower $2.82 level?
- A clean break above the $3.00 mark would likely renew bullish momentum and confirm trend continuation.
- Sustained volume will be essential; if liquidity begins to dry up, upward pressure could fade quickly.
