📄 Ripple (XRP) Price Breaks $3 Support With Bullish Momentum Building

  • Price Recovery Above $3
    XRP reclaimed the key $3 level, trading around $3.04 with a 1.5% uptick after a period in the $2.75–$3.05 range YouTube+13CoinLaw+13CoinCentral+13.

  • Trading Volumes Surge
    Trading activity surged — one-minute volume hit $33 million, daily volume rose ~27.7% to $10.37 billion, suggesting renewed interest from institutional and retail investors CoinCentral+4CoinLaw+4thetradable.com+4.

  • Critical Resistance Levels
    Analysts are watching resistance at $3.12 and $3.21. Clearing these could unlock a rally toward $4 or even higher ($4.80 in more bullish forecasts) OneSafe+9CoinLaw+9AInvest+9.

  • Mixed Technical Indicators
    A TD Sequential 9‑count sell signal showed up on the 3‑day chart (often indicating a short‑term top), while RSI is elevated but not overbought CoinLaw.

  • Ecosystem Enhancements
    Ripple CTO David Schwartz unveiled a personal XRPL hub located in New York to enhance decentralized infrastructure and testing capabilities CoinLaw+1.

  • Sentiment & Open Interest
    Open interest climbed about 4.9% to $7.51 billion; chart patterns on shorter timeframes show bullish divergence. Support near $2.75–$2.85 appears solid CoinLaw+10CoinLaw+10CoinCentral+10.

  • Outlook & Upcoming Catalysts
    Machine‑learning models suggest a target range of $3.12–$3.21 by late August. Traders are eyeing the SEC’s pending August 15 decision regarding XRP’s regulatory classification, which could be a major catalyst CoinCentral+3CoinLaw+3The Economic Times+3.

  • CoinLaw’s Perspective
    The article notes this bounce above $3 feels more sustainable due to volume and institutional flows—but warns resistance levels at $3.12 and $3.21 must yield. A favorable SEC ruling could set the stage for a move toward $4 or higher OneSafe+5CoinLaw+5CoinLaw+5.

🧭 Key Takeaways at a Glance

Category

Details

Current Price

~$3.04 (+1.5%)

Volume & Momentum

Volume spike; strong institutional interest

Resistance Levels

$3.12 and $3.21—clearance may lead to $4+

Support Zones

~$2.97; broader zones: $2.75–$2.85

Technical Signals

Bullish divergence vs. sell signal present

Ecosystem Update

New XRPL server by Ripple CTO JoelKatz

Catalysts to Watch

SEC decision (Aug 15), volume, institutional flows

🎯 Bottom Line: XRP has bounced back above $3 with meaningful volume and sentiment, but needs to push past resistance around $3.12–$3.21 to confirm broader bullish momentum. Technicals are mixed, and upcoming regulatory clarity, particularly the SEC decision, could make or break the next leg toward $4 or beyond.


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