Ripple’s XRP surged 5% on the day, closing at $3.04, as price action remained volatile within a tight range between $2.83 and $3.11. This level marks a critical inflection point, with bulls and bears now eyeing $3.00 as the make-or-break zone for short-term momentum.
XRP Volume Surges Amid Whales and Bank Opposition
More than 110 million XRP changed hands in the past 24 hours, including a single $33 million transaction executed in under a minute—causing short-term slippage and unsettling market depth.
Despite this volatility, XRP held strong above the $3.00 support level.
Meanwhile, Ripple’s license application faced new resistance from traditional banking institutions. The Bank Policy Institute (BPI)—representing 42 banks—formally objected to Ripple’s regulatory push, creating fresh uncertainty around Ripple’s legal path forward.
Institutional Activity Remains Neutral
Despite the headlines, institutional flow was net neutral. Data shows:
$2.1 billion in token divestments
Balanced by $14 million in leveraged long positions
This suggests no clear conviction from institutional players yet, but a willingness to maintain exposure as XRP consolidates around key levels.
Technical Signals Point to Caution
With resistance holding firm at $3.11, short-term upside looks capped unless volume continues to increase. The TD Sequential indicator is flashing a potential bearish reversal in the near term, though AI-driven models still project a $3.12 move by end of August.
Traders are watching for a confirmed close above $3.09 to reignite bullish sentiment.
Whether Ripple breaks out or pulls back will likely hinge on regulatory clarity, macro liquidity, and continued whale activity. Until then, $3.00 stands as the line in the sand.
If support at $3.00 fails, downside toward $2.80 may reopen. A breakout above $3.11 could trigger fresh momentum toward $3.30+.
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.
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