XRP surged to $3.05 during a 24-hour volatile period, recording profits of between $2.92 and 4.45% as traders responded to unprecedented minutes-level volume and whale liquidation.
Within a minute, a $33 million spike was recorded, marking one of the biggest spikes in the token.
Despite the technical resistance at $3.09 and the flashing short-term sales signal, machine learning forecasts continue targeting towards $3.12 by the end of the month.
What do you know
- XRP went from $2.92 to $3.05 between August 3rd and August 20th and August 4th, with trading range up 4.45% at $0.18 (6% spread).
- The $3.00 psychological level was violated during the 13:00-14:00 session at extreme volumes, peaking at 151.97 million deals.
- In-facility trading sparked a sales flow of $21 billion despite leveraged long positions totaling $14 million being opened on major exchanges.
- A one-minute volume record of $33 million was observed at the height of the breakout.
- Despite the August 15th update of the SEC regulatory status, AI trading models from multiple platforms are forecasting $3.12 by August 31st.
- The TD sequential indicator flashes sales signals to a 3-day chart, suggesting that a short-term top could be formed.
News background
The price surge followed a wider risk-on move in the crypto market as traders turned from slower altcoins to high-liquid majors.
However, on-chain data revealed aggressive sell-side flows from whale addresses and smart money funds, revealing concerns that the rally could have been driven by short-term positioning prior to the regulatory catalyst.
The SEC is expected to clarify XRP securities treatment by mid-August, a potential binary event for the token.
Price Action Overview
- XRP closed the session at $3.05 after hitting a $3.08 high of $3.08.
- Price Action turned sharply at $3.09, establishing the level as a recent resistance.
- Support was observed at $2.97 between 05:00 and 06:00 windows, with a continuum volume of 57.65 million and 44.77 million.
- In the final time, it ranged from $3.04 to $3.05, with high stacking volatility and no clear direction bias.
Technical Analysis
- The price was held above the $3.00 psychological belt, but despite a massive surge in volume, it failed to invade a higher level.
- The TD sequential indicates a 3D 9 count sales signal, usually followed by integration or downside pressure.
- The 1H and 4H RSIs remained rising, but have not crossed into extremely over-acquired territory.
- The $3.09 refusal occurred on a volume of 69.89 million, far surpassing 24 hours, an average of 62.11 million.
What traders see
- Whether XRP can maintain support of more than $3.00 towards the weekend.
- The impact of the SEC’s mid-August decision on XRP’s market classification.
- If the agency seller re-enters for $3.10 or more, or if prolonged exposure is built at current levels.
- Machine learning-driven prices range from $3.10 to $3.12 at the end of the month, assuming volatility is compressed.
