As of August 27 at 04:00 (GMT), the price of XRP fluctuated slightly between $2.95 and $3.05, ultimately closing at $2.98, down 1.3% for the day. In the short term, the price is consolidating around $3, and the market is in a wait-and-see phase.

The most active trading volume occurred at 20:00 (GMT), with the trading volume surging to 273 million, nearly four times the daily average! This spike allowed XRP to briefly touch $3.05, but with strong selling pressure, the price was pushed back into the consolidation range. In the last hour (03:04–04:03), XRP fluctuated between $2.97 and $3.08, testing the $2.975 support level multiple times.

Technical Analysis

Support Level: $2.975–$2.98, defended successfully multiple times, representing a short-term psychological bottom

Resistance Level: $3.02–$3.04, strong selling pressure, limiting short-term upward movement

Momentum Indicators: RSI around 50 in mid-range, indicating a neutral market; MACD histogram converging, with potential bullish crossover signals

Volume: Peak trading volume indicates institutional activity but also highlights profit-taking at resistance levels

Consolidation Pattern: Consolidation near $3 suggests the market is building a bottom; if it breaks through the $3.04 resistance, a new round of upward movement may follow.

XRP is currently consolidating around $3, with solid support but clear pressure above. Short-term investors should pay attention to the $2.975 support and $3.04 resistance; a breakout on either side could lead to market volatility.