XRP Eyes $3.20 as Bull-Flag Pattern Forms, Key Support at $2.89

4 hours ago

News Background

CME Group precocious said its crypto futures suite surpassed $30 cardinal successful notional unfastened involvement for the archetypal time, with XRP futures crossing $1 cardinal successful conscionable implicit 3 months — the fastest gait for a caller contract.
Broader crypto sentiment improved aft Fed Chair Jerome Powell’s Jackson Hole remarks, which boosted expectations of argumentation easing aboriginal this year.
XRP continues to commercialized nether the shadiness of U.S. regulatory uncertainty, adjacent arsenic firm treasuries research cross-border outgo pilots with Ripple’s technology.

From August 26 astatine 03:00 to August 27 astatine 02:00, XRP gained 3.60%, rising from $2.89 to $2.99 wrong a $0.20 intraday band.
The sharpest determination came astatine 19:00 GMT connected August 26, erstwhile XRP pierced $3.08 connected bonzer 167.60 cardinal measurement earlier rejecting astatine that level.
In the last hr (01:21–02:20 GMT connected Aug. 27), XRP oscillated wrong a $0.13 corridor, consolidating gains portion holding dependable adjacent the $2.99–$3.00 zone.

Support: $2.89 remains the cardinal basal aft aggregate palmy retests; $2.99 present acting arsenic a intelligence floor.
Resistance: $3.06–$3.08 is the near-term ceiling, reinforced by the dense rejection connected precocious measurement astatine $3.08.
Momentum: RSI recovered from oversold 42 to the mid-50s, suggesting strengthening near-term trend.
Volume: 167.60 cardinal tokens changed hands during the $3.08 trial — much than treble the 30-day mean — a wide motion of organization participation.
Patterns: Double bull-flag and rounding-bottom structures item imaginable upside, with technicians eyeing $5.85 arsenic a longer-term breakout target.
Compression: Diminishing peaks astir $3.01–$3.00 successful precocious trading bespeak a coiling setup up of a directional move.

Whether $2.99–$3.00 tin clasp arsenic a coagulated intelligence support.
A confirmed interruption supra $3.08 perchance opens a tally to $3.20 and beyond.
Downside risks stay if $2.84 is breached, with $2.80 arsenic the adjacent cardinal level.
CME open-interest maturation and organization flows volition beryllium watched intimately for confirmation of sustained momentum.