XRP Surges, Stalls at $3 as Trading Volume Triples on Profit Booking

XRP surged 6% during the 24-hour trading model from August 3 astatine 03:00 to August 4 astatine 02:00, rising from $2.83 to a precocious of $3.03 earlier closing astatine $3.00.

The rally was driven by beardown breakout momentum and organization flows, with trading volumes exceeding 110 cardinal during highest hours. However, the determination was capped by dense selling astatine the $3.03 level, wherever profit-taking sparked a reversal that erased portion of the gains.

What to Know

• XRP climbed from $2.83 to $3.03, earlier settling astatine $3.00
• Trading volumes peaked astatine 109–110 cardinal versus a 24-hour mean of 52.2 million
• Resistance was confirmed astatine $3.00–$3.03 pursuing organization selling
• Key intraday breakouts occurred astatine $2.87, $2.92, and $2.97

News Background
The determination comes amid a broader altcoin rally, arsenic traders rotate into high-beta tokens portion macroeconomic headwinds proceed to unit equities. Global ostentation remains sticky, and cardinal banks person signaled a cautious stance connected complaint cuts.
XRP’s spot whitethorn bespeak a impermanent superior displacement into volatile assets arsenic traders hunt for short-term gains.

Price Action Summary

• Daily range: $2.83–$3.03, with a 7.4% swing
• Acceleration occurred betwixt 23:00 and 01:00 arsenic XRP cleared aggregate absorption levels
• A crisp 1% pullback during the last hr saw XRP diminution from $3.03 to $3.00
• A descending signifier emerged with little highs astatine $3.03, $3.02, and $3.01
• Final 4 minutes saw a implicit halt successful trades, indicating end-of-session presumption locking

Technical Analysis

• Support confirmed astatine $2.82 pursuing volume-backed consolidation
• Resistance confirmed astatine $3.03, with terms failing to support breakout levels
• Volume spikes during breakout and reversal phases bespeak organization activity
• Price concisely entered a downward transmission during the past hr of trading
• Failed betterment effort astatine 01:35 suggests weakening intraday momentum

What Traders Are Watching

• Breakout supra $3.03 could people $3.07–$3.10 next
• Downside enactment rests astatine $2.97 and $2.92 connected immoderate correction
• Broader correlation with BTC and ETH remains intact
• Watch for measurement compression oregon macro headlines to awesome adjacent leg