XRP’s Trading Volume Skyrocets
XRP has been on a rollercoaster ride after jumping from $2.83 to a peak of $3.03. The retest of the $3 resistance triggered a volume surge of more than 110 million XRP traded, which is more than triple the daily average.
What Fueled the Volume Surge?
Institutional and retail demand, especially from South Korea, where trading volumes on Upbit alone soared past $95 million, made XRP the most traded asset.
XRP cleared several intraday resistance bands at $2.87, $2.92, and $2.97, helping to validate the breakout.
Technical Breakdown & Resistance Outlook
Resistance continues to be held firmly at the $3.00–$3.03 zone, with all eyes clued to whether XRP will gain notable momentum to be able to surge to the key breakout zone of $3.12 to $3.14.
A sustained move above this resistance zone could open the door to an increase to the recent all-time high (ATH) of $3.65 and beyond.
Meanwhile, support is now anchored around $2.97–$2.92, with lower layers at $2.85, $2.80, and as low as $2.65 if weakness intensifies.
Notably, some of the key momentum indicators, such as the relative strength index (RSI) and exponential moving averages (EMAs), are showing mixed reactions. On one hand, the short‑term trend remains bullish, but signs of overextension and minor fatigue have emerged.
Broader Catalysts Behind the Rally
Regulatory optimism is rising as the Ripple vs. SEC settlement, expected by August 15, nears. Ripple is reportedly ready to pay a $125 million fine and drop appeals, with the SEC likely to settle in response, fueling bullish market sentiment.
Furthermore, Ripple’s expanding ecosystem, driven by rising institutional adoption of its stablecoin RLUSD, is fueling increased trading inflows and market interest.
Conclusion
XRP’s recent tripling in trading volume reflects strong institutional and retail conviction around the $3 resistance zone.
Its ability to hold and build above that threshold in coming days with legal clarity and momentum working in its favor could mark the start of a broader breakout phase.
