XRP Whipsaws on $2.84–$2.99 Range as Bulls Eye Breakout Above $3

XRP rallied toward the $3 mark in the past session, with trading volume spiking more than 6% above its weekly baseline.

News Background

• XRP’s rally comes amid broader crypto stabilization, with altcoins tracking modest inflows after last week’s drawdown.• On-chain data flagged institutional-sized flows, with nearly 155 million in XRP turnover during recovery periods, far above the 63 million daily average.• Market chatter initially suggested XRP was hitting new highs, though the actual all-time peak remains $3.84 from January 2018 — underscoring that this is a recovery test, not price discovery.

Price Action Summary

• XRP swung 5.1% between $2.84 and $2.99 in the 23-hour window from Aug. 20 13:00 to Aug. 21 12:00.• The strongest push came around 19:00 UTC on Aug. 20, when the token surged from $2.84 to $2.99 on 80.6 million volume.• Subsequent sessions showed consolidation, with repeated bounces in the $2.89–$2.93 range, confirming it as interim support.• A sharp whipsaw in the final hour (Aug. 21 11:03–12:02) saw an 8.6% swing: from $2.916 to $2.901 on 960,000 units, before stabilizing.

Technical Analysis

• Support: $2.89–$2.93 zone shows multiple strong bounces on above-average participation.• Resistance: $2.99–$3.00 psychological ceiling caps momentum; repeated rejections visible.• Volume: 80.65 million during the rally vs. a 24-hour baseline of ~63 million.• Pattern: Sideways consolidation following bullish impulse; momentum tilting slightly downward.

What Traders Are Watching

• Whether $2.93 support holds in the short term or gives way to a retest of $2.82.• Break above $3.00 as a potential trigger for trend continuation.• Volume sustainability — if flows taper, bulls risk losing control.