XRP Experiences 5% Price Swing Before Trading Freeze at $3.00
XRP experienced significant price fluctuations before a sudden trading halt, leading to discussions about whether institutional activity or technical issues were responsible. The token fluctuated in a 5% range, ultimately freezing around the $3.00 level.
News Background
- XRP rose 5% from $2.97 to $3.10 during the August 18–19 session but later retreated toward $3.00.
- In the last hour, prices oscillated between $3.01 and $2.99 before completely halting at 08:19 with no recorded volume.
- The freeze prompted speculation regarding potential technical disruptions or liquidity issues on major exchanges.
- Trading volume peaked at 3.26 million in one minute (08:00–08:01), suggesting institutional order involvement.
Price Action Summary
- The session showed a price range of $0.15, equating to a 5% movement between lows of $2.95 and highs of $3.10.
- Initial momentum increased XRP by 4.4% to $3.10 before sellers restricted further gains.
- The price consolidated back towards the $3.00 support level in the latter half of the session.
- The late-session freeze at $3.00 raised concerns among traders.
Technical Analysis
- Support is identified at the psychological level of $3.00, which has been defended amid volatility.
- Resistance lies in the $3.08–$3.10 zone, where upward movements have been consistently rejected.
- The volume spike to 3.26 million indicates institutional or algorithmic participation at critical moments.
- The zero volume reported at 08:19–08:20 highlights a possible exchange issue or lack of liquidity.
- The current consolidation range of $0.15 defines the immediate short-term trading band.
What Traders Are Watching
- Determining if the trading freeze was due to a technical fault or actual liquidity loss, affecting institutional confidence.
- The next test for $3.00 support; failure could lead to a drop towards $2.95.
- A breakthrough above $3.10 could potentially signal a move towards $3.25–$3.30.
- Whale positioning during the volume spike will influence near-term market sentiment.