XRP Surges to $3.05 with $33 Million Traded in One Minute

XRP experienced a notable price surge, reaching $3.05 with a 4.45% gain from $2.92 due to high trading volumes and whale liquidations.

Key facts include:

XRP rose from $2.92 to $3.05 between 3 August 21:00 and 4 August 20:00, with a trading range of $0.18.
A significant volume spike of $33 million occurred within one minute during the breakout.
Institutional trading caused $2.10 billion in sell flows, while leveraged long positions of $14 million were opened on major exchanges.
Machine-learning forecasts suggest a price target of $3.12 by 31 August, despite an upcoming SEC regulatory update on 15 August.
The TD Sequential indicator signaled a short-term sell on the three-day chart.

Price action highlights:

XRP reached intraday highs of $3.08 but closed at $3.05.
Resistance is established at $3.09, with support at $2.97 noted during peak trading hours.
Final hour trading showed volatility with minimal price range between $3.04 and $3.05.

Technical analysis indicates:

Price maintained above the $3.00 level but did not break higher despite increased volumes.
TD Sequential shows a sell signal, generally leading to consolidation or downward pressure.
RSI remains elevated without extreme overbought levels.

Traders are monitoring:

The ability of XRP to sustain support above $3.00.
The implications of the SEC’s decision on XRP's market classification.
Potential re-entry of institutional sellers at $3.10+ and building long exposure.
Machine learning price targets between $3.10 and $3.12 by month-end if volatility decreases.