The air around XRP has been thick with anticipation lately, a familiar hum of activity that often precedes a significant move. Just recently, the Ripple-linked token saw its value climb by five percent in a single day. This happened even as traditional banks, those venerable institutions, threw a fresh wave of objections at Ripple’s ongoing license application. It’s a bit like watching a boat sail smoothly through choppy waters, isn’t it?
- XRP’s price saw a notable intraday swing, dancing between $2.83 and $3.11, indicating lively price action. Trading volumes surged past 110 million XRP, showing significant market activity.
- The banking sector’s objections to Ripple’s license injected uncertainty, but XRP’s price generally held above $3.00. Bursts of liquidity also signaled large players entering or exiting the market.
- Technical indicators, like the TD Sequential, suggested a potential short-term reversal, while AI models project a move to $3.12 by the end of August. Traders are watching Ripple’s response to the banking sector and how regulators react.
Price action, as we call it, remained quite lively. XRP danced between $2.83 and $3.11, showing a spirited 9.8 percent intraday swing. Upside momentum seemed to hit a wall at certain resistance levels. Yet, trading volumes surged past 110 million XRP. That’s a lot of tokens changing hands. One notable moment involved a $33 million transaction that flashed across order books in just one minute, a move big enough to make even seasoned traders raise an eyebrow.
The Regulatory Undercurrents
You see, the banking sector has been quite vocal. The BPI, a group representing 42 banks, formally objected to Ripple’s pending banking license. This move injected a fresh dose of uncertainty into the regulatory timeline. For many traders, however, this news seemed to fade into the background noise. XRP’s price held its ground above the $3.00 mark. We also saw bursts of liquidity, those sudden increases in available tokens for trading, which often signal large players entering or exiting the market.
This coordinated filing by the banks marks the most concentrated resistance Ripple has faced since its partial victory against the SEC. It’s a reminder that even in the fast-paced world of crypto, the old guard still has a say. The push and pull between traditional finance and decentralized innovation continues to play out in public view.
XRP’s Price Dance
Let’s talk numbers, because that’s where the story often becomes clearest. CoinDesk Analytics reported that XRP hit a session high of $3.11 around 5:00 PM. Then, it reversed course on volume spikes of nearly 70 million XRP. Support, that floor beneath the price, formed at $2.97 during the Asia session, specifically between 5:00 AM and 6:00 AM. This support was reinforced by back-to-back trades exceeding 50 million XRP each. It’s like a sturdy foundation being built one brick at a time.
Even during mid-day selloffs, the $3.00 support level held firm. Momentum above $3.09 did fade, suggesting buyers were running out of steam at that point. In the final hour of trading, between 1:09 PM and 2:08 PM, XRP stayed flat at $3.03. About 2.1 million XRP were sold during an attempt to push the price lower, but it managed to recover.
The price structure shows a clean consolidation band between $3.00 and $3.02. There hasn’t been a structural breakdown yet, which is good news for those hoping for stability. Bulls, the optimistic buyers, tried multiple times to push past the $3.09 to $3.11 resistance cluster, but they couldn’t quite make it. This signals a bit of short-term exhaustion near that level.
Trading volume remained consistently above the daily mean of 47.7 million XRP in five separate hourly windows. This shows sustained interest in the token, which is always a healthy sign. It tells us that people are actively engaged, buying and selling, rather than just sitting on the sidelines.
What the Models Say and Traders Watch
Looking at the technical side, the TD Sequential indicator on the three-day chart signaled a completed 9-count. This typically suggests a local top, meaning the price might be due for a short-term reversal. It’s a tool many traders use to spot potential turning points. Still, AI-driven models are projecting a move to $3.12 by the end of August. It’s a fascinating contrast, isn’t it, between traditional technical analysis and the newer AI predictions?
The breakout level, the point where a significant upward move could begin, remains $3.05. If volume returns above 50 million XRP per hour, we could see upside extensions to $3.15. That’s the kind of move that gets traders excited. But it all hinges on that volume returning.
What are traders keeping an eye on now? Well, a big one is whether Ripple will publicly respond to the banking sector’s challenge. And, of course, how regulators will react to all of this. It’s a delicate dance between corporate strategy and government oversight. Another key point is whether the $3.00 to $3.02 range continues to act as an accumulation zone for larger holders, those big players who can move the market.
Volume participation into the weekend is also on the radar. Any slowdown could set the stage for a retest of the $2.92 to $2.97 range. On the flip side, a trend flip, confirmed by strong hourly volume above $3.05, could target the $3.12 to $3.25 range. It’s a constant game of watching the charts, anticipating the next move, and trying to read the tea leaves of the market.
