25 August 2025
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XRP Rallies to $3.09 as Institutional Trading Volumes Surge
XRP Market Update
XRP experienced a rally on August 23, driven by increased institutional trading volumes and dovish comments from Fed Chair Jerome Powell, which heightened expectations for September rate cuts. This environment has strengthened bullish sentiment toward cryptocurrencies.
Price Movement
- XRP rose 3%, moving from $3.02 to $3.09 before settling back at $3.02.
- The token traded within a $0.09 range, reaching a peak of $3.09 with a volume of 58.8 million, surpassing the average of 33.2 million.
- Support was established around $3.00, evidenced by a turnover of 46.6 million.
- XRP closed near $3.02, indicating potential momentum while remaining under resistance.
Technical Insights
- Resistance is strong at $3.08–$3.09 due to high-volume rejections.
- Support is confirmed at $3.00 after several bounces with substantial participation.
- Volume surges suggest significant institutional activity, with $27 million in XRP transacted in one minute.
- Chart patterns indicate potential gains towards $3.30, and if surpassed, targets of $5–$8 could be feasible.
Key Considerations for Traders
- Monitoring if $3.00 holds during profit-taking periods.
- A breakthrough above $3.30 may trigger advanced target levels.
- Observing Fed policy impacts ahead of September; confirmation of rate cuts could bolster risk asset flows.
- Tracking whale wallet accumulation and a notable 500% increase in on-chain settlement volumes to 844 million.
- Assessing correlations with equity markets as lower yields drive inflows into digital assets.