XRP Rejects $3.09 Resistance, Bears Target $2.96 Demand Zone

2 months ago 53

A bullish breakout during the 17:00 trading hour on August 18 pushed prices from $2.97 to $3.10, supported by heavy volume of 131 million—double the 24-hour average of 66.8 million.

Updated Aug 19, 2025, 5:26 a.m. Published Aug 19, 2025, 5:25 a.m.

What to know:

XRP ended Monday's session near the $3.00 mark after a sharp selloff in the final trading hour, indicating institutional distribution.
The token experienced nearly 4% intraday volatility, with a bullish surge pushing prices to $3.10 before momentum faded.
Key resistance at $3.09 and support at $3.00 highlight potential for either a retest of higher levels or a deeper correction.

XRP closed Monday’s session under pressure, reversing an earlier rally and ending near the $3.00 threshold. A sharp selloff in the final trading hour saw the asset dip 1% on surging volume, suggesting institutional distribution and stop-loss liquidations driving price action.

Technical Analysis Shows Mixed Signals

XRP traded within a $0.11 range between $2.94 and $3.10 across the 24-hour session from August 18 05:00 to August 19 04:00, representing nearly 4% intraday volatility. A bullish breakout during the 17:00 trading hour on August 18 pushed prices from $2.97 to $3.10, supported by heavy volume of 131 million—double the 24-hour average of 66.8 million. This established short-term support near $3.00.

Momentum faded quickly, however. The token rejected multiple times at $3.09, sliding into consolidation around $2.99. An aggressive pullback unfolded during the 03:00 hour on August 19, when XRP dropped from $3.04 to $2.99.

Key Market Movements

• XRP declined 1% in the final 60 minutes, sliding from $3.03 to $2.99 as volumes spiked to 5.26 million—five times the hourly average
• Distribution pressure accelerated around the $3.00 psychological threshold, triggering stop-loss liquidations during the 03:43–03:46 interval
• A bullish surge earlier in the session (August 18 17:00) lifted XRP from $2.97 to $3.10 on 131 million volume, far above average activity

Market Dynamics Drive Sharp Reversal

The late-session breakdown confirmed institutional selling near $3.00, erasing the earlier breakout’s momentum. While $2.99 provided intraday stabilization, the volume-backed rejection at $3.09 highlights growing resistance pressure.

XRP now sits at a crossroads: holding above $2.99 could allow bulls to retest the $3.08–$3.09 cluster, while failure risks a deeper correction toward the $2.96 demand zone.

Technical Indicators Summary

• Range: $0.11 (3.8%) between $3.10 peak and $2.94 trough
• Resistance: $3.09, rejected repeatedly through evening sessions
• Support: $3.00 psychological level, tested under high-volume distribution
• Risk: Breakdown toward $2.96 demand zone if $2.99 fails
• Signal: Bullish triangle structure intact, but momentum fading under profit-taking

Shaurya Malwa

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.

CD Analytics

CoinDesk Analytics is CoinDesk's AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk's editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.

CoinDesk Analytics operates under CoinDesk's AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk's approach to AI-generated content in our AI policy.

More For You

DOGE Tests 22-Cent Support as $782M Volume Unleashes Stop-Loss Cascade

Resistance is building near $0.23, where profit-taking and heavy sell orders reappear.

What to know:

Dogecoin fell 4% overnight, dropping from $0.23 to $0.22 amid heavy trading volume.
The decline was part of a broader crypto liquidation trend, influenced by U.S. inflation data.
Institutional investors accumulated 2 billion DOGE this week, despite the price drop.

Read Entire Article