XRP Rallies 4% as Ripple-SEC Settlement Boosts Institutional Inflows
XRP has extended its post-settlement rally, showing strong mid-session momentum with volumes exceeding 140 million tokens as it tests resistance at $3.30.
Technical Analysis Overview
- XRP increased by 4% from $3.15 to $3.25 within a volatile range of $0.20.
- Most gains occurred between 12:00 and 20:00, pushing the price to $3.30 on significant volume.
- Resistance is established at $3.30, while support consolidates between $3.25-$3.26.
- A 1% decline was noted in the final trading hour due to profit-taking.
- Volume spikes above 5.9M during late trading indicate controlled distribution by institutions.
News Background
- Ripple Labs and the SEC have dismissed appeals, ending years of litigation over XRP.
- This legal resolution has prompted a 208% increase in daily trading volume, reaching $12.4B.
- Enterprise adoption news includes Blue Origin integrating XRP payments and SEC approval for Ripple’s Regulation D exemption.
Price Action Summary
- XRP rose 4% from $3.15 to $3.25 on August 12-13.
- Mid-session rally saw price rise from $3.15 to $3.30 with volumes over 140M.
- Resistance confirmed at $3.30; support remains at $3.25-$3.26.
- Final-hour profit-taking adjusted price to $3.25 without disrupting bullish structure.
Technical Indicators Analysis
- Support at $3.25-$3.26 backed by volume.
- Resistance at $3.30 based on multiple rejections.
- Intraday range maintained at $0.20 with 6% volatility.
- Largest volume concentration occurred during the 12:00-20:00 rally.
- Late-session volume spikes linked to profit-taking trends.
What Traders Are Watching
- Possible breakout above $3.30 towards $3.35-$3.50.
- Sustained inflows from large holders post-settlement.
- Effects of enterprise adoption news on spot demand.
- Macro impacts from trade and monetary policy changes.