XRP Surges 9% Before Pullback Caps Rally Near $3

News Background

XRP precocious sharply during the August 22–23 session, investigating multi-month absorption adjacent $3.10 aft weeks of sideways trading.
The determination coincided with dovish commentary from Federal Reserve Chair Jerome Powell astatine Jackson Hole, which reinforced expectations of a September complaint chopped and lifted hazard sentiment crossed integer assets.
On-chain colony volumes connected the XRP Ledger surged 500% earlier this week, adding to optimism astir organization adoption contempt ongoing whale distribution.

Price Action Summary

• XRP gained 8.56% crossed the 23-hour league from August 22 astatine 11:00 to August 23 astatine 10:00, climbing from $2.83 to $3.03.
• The token swung betwixt $2.79 and $3.10, creating an 11% intraday range.
• The breakout occurred astatine 14:00 UTC connected August 22, with XRP surging from $2.84 to $3.03 connected 667.4 cardinal volume—five times league averages.
• Late-session volatility capped the move, with XRP retreating 0.47% successful the last hr to settee adjacent $3.01.
• Support has consolidated astir $2.97–$3.00 portion absorption remains steadfast astatine $3.08–$3.10.

Technical Analysis

• Breakout levels: $2.84–$2.97 accumulation portion triggered upside impulse connected precocious volume.
• Resistance: Strong proviso unit emerged astatine $3.08–$3.10, rejecting further advance.
• Support: New level forming astatine $2.97–$3.00 intelligence level, repeatedly defended intraday.
• Volume: Breakout candle logged 667.4 cardinal trades, 72% supra play average.
• Structure: Pattern resembles continuation setup if $3.00 holds, though fading measurement precocious successful the league suggests consolidation earlier adjacent leg.

What Traders Are Watching

• Whether $3.00 enactment holds during profit-taking, oregon if a deeper retrace tests $2.95.
• Breakout confirmation supra $3.08–$3.10 zone, which could unfastened way toward $3.25.
• Fed argumentation signals up of September meeting, and interaction connected hazard plus flows.
• On-chain activity, which has surged to 844 cardinal tokens settled successful a azygous day, signaling endeavor adoption potential.
• Whale flows, arsenic caller speech deposits proceed to measurement connected intraday momentum.