XRP experienced a sharp sell-off in high-volume trading, signaling potential exhaustion after a recent rally. The digital asset posted a 4.2% intraday decline, reinforcing $3.04 as a near-term resistance level and establishing local support at $2.93.
XRP Drops From $3.06 to $2.93 in High-Volume Reversal
Price action accelerated around 14:00, when XRP dropped from $3.04 to $2.97, driven by a volume surge of 169.41 million — more than three times the 24-hour average of 52.73 million. This marked the steepest hourly decline, with the largest concentration of sell orders in the session.
During the final hour of trading, an additional 1% decline was triggered by a 1.6 million-unit transaction at 02:11, confirming bearish momentum into the close.
Key Resistance and Support Levels Established
The price movements have now clearly established $3.04 as an interim resistance zone, following rejection at that level during the sell-off. Meanwhile, $2.93 has emerged as local support, with buyers stepping in to stabilize the price after the sharp drop.
The current consolidation range is tightening, with XRP hovering between $2.96 and $2.90, suggesting a neutral short-term outlook until a breakout occurs.
Traders Eye Bullish Divergence Amid Geopolitical Tensions
Despite the downside, some traders are closely monitoring for potential bullish divergence on lower timeframes, especially if XRP can reclaim the key $3.00 psychological level. Macro events and geopolitical risks may also contribute to further volatility, offering both risk and opportunity for active market participants.
All Eyes on the $3.00 Reclaim
While the 4.2% drop confirms seller strength at $3.04, sustained support at $2.93 prevents a deeper correction — for now. If XRP can reclaim the $3.00 mark with renewed volume, short-term momentum could shift bullish. Until then, the range between $2.90 and $2.96 will define the battleground for price action in the coming sessions.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.