Technical Analysis Overview
XRP drops 2% in the 24-hour period ending August 12, sliding from $3.19 to $3.14 after touching an intraday peak of $3.32 at 08:00. The move comes after two days of double-digit gains on regulatory clarity, with selling pressure concentrated in the 19:00 hour — a $3.20 to $3.15 drop on 73.87 million volume.
Support holds at $3.13 after multiple successful tests, while resistance builds at $3.27, setting a defined near-term range. Final-hour trade sees a bounce from $3.13 to $3.14 on late buying, with volume spikes of 3.21M and 4.45M signaling dip-buying interest.
News Background
Ripple Labs and the Securities and Exchange Commission have formally ended their nearly five-year legal battle, jointly dismissing appeals in the XRP case. The settlement removes a significant compliance overhang, unlocking greater institutional participation. Daily trading volumes have jumped 208% to $12.4B since the announcement, with open interest also climbing.
Despite the legal breakthrough, broader crypto sentiment remains tied to macro factors, including ongoing international trade disputes and shifting monetary policy expectations.
Price Action Summary
📖 Related Reading
- 📰 CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
- 📰 Ether Eyes Biggest Monthly Gain Since 2022 as ETFs, Corporate Treasuries Drive Rally
• XRP declines from $3.19 to $3.14 in the August 11 01:00–August 12 00:00 window
• Intraday peak of $3.32 at 08:00 meets heavy resistance, triggering selloff
• 19:00 hour sees $3.20 to $3.15 drop on 73.87M volume — session’s heaviest print
• Support confirmed at $3.13; resistance locked at $3.27
Market Analysis and Economic Factors
The pullback reflects natural profit-taking after XRP’s post-settlement rally. Large holders appear to be rebalancing positions while maintaining bids at $3.13-$3.15, indicating no deterioration in longer-term sentiment. Macro uncertainty continues to influence broader flows, though XRP’s regulatory clarity gives it relative insulation versus peers.
Technical Indicators Analysis
• Support: $3.13 (multiple volume-backed tests)
• Resistance: $3.27-$3.32 (repeated rejection)
• Intraday range: $0.19 (6% volatility)
• Heavy 19:00 volume suggests coordinated institutional selling
• Late-session accumulation keeps price above $3.13
What Traders Are Watching
• Breakout potential above $3.27 to resume upward momentum
• Stability of $3.13 support on further profit-taking waves
• Persistence of institutional inflows post-regulatory settlement
• Macro spillover effects from trade and monetary policy developments
🔗 You Might Also Be Interested In
CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
Ether Eyes Biggest Monthly Gain Since 2022 as ETFs, Corporate Treasuries Drive Rally
Asia Morning Briefing: BTC Slips Below $110K as ‘Signs of Fatigue’ Emerging
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!