XRP Recovers Above $3.10 After Steep Selloff, Market Eyes Bullish Reversal
Higher Lows and Volume Surge Indicate Possible Bottom Formation
XRP is showing signs of recovery after a sharp 10.14% drop saw the token fall from $3.45 to $3.10 in the 24-hour period ending July 24 at 11:00 GMT. The steep decline, driven by intensified selling on July 23, pushed the price below critical support at $3.20 and created resistance in the $3.23–$3.25 zone.
However, a sharp rebound from the session low of $2.96 early on July 24 suggests the pullback may have marked a local bottom. A pattern of higher lows and heavy trading volumes point toward renewed interest—likely from institutional players—at discounted levels.
Volume Spike Confirms Demand at Lower Levels
Trading activity surged above 175 million tokens for the session, signaling strong participation as XRP entered oversold conditions. The most notable recovery occurred in the final hour, when the price climbed from $3.10 to $3.11, accompanied by a volume spike of 5.6 million—the day’s highest.
Earlier, a breakout between 10:46 and 10:48 GMT pushed XRP from $3.06 to $3.09. The $3.06–$3.07 zone was tested several times during the 10:31–10:37 window, with 4.6 million tokens changing hands, confirming support at that level.
Technical Breakdown
- Intraday Range: $3.45 (high) to $2.96 (low), a $0.49 spread
- Support Reclaimed: $3.10 now acting as a key short-term base
- Resistance Ahead: $3.23–$3.25 remains the primary ceiling
- Bullish Structure: Successive higher lows — $2.96 → $3.06 → $3.09 → $3.11 — suggest upside shift
- Volume Confirmation: Buying pressure strongest near session close
This pattern of higher lows, paired with strong closing volume, adds technical weight to the recovery. Market participants now look for continuation above the $3.15 threshold, which could validate a near-term reversal.
Outlook: Can Bulls Maintain Momentum?
The immediate focus is whether XRP can sustain levels above $3.15 and eventually push through the $3.23–$3.25 resistance corridor. Continued signs of accumulation in the $3.00–$3.10 range will be key for bullish confirmation.
Traders also remain alert to external catalysts, particularly macro sentiment shifts and developments in U.S. regulatory policy—both of which could influence momentum in the sessions ahead.
For now, XRP’s strong bounce from sub-$3 levels, coupled with surging volume and a supportive technical pattern, suggest the worst of the correction may be over.
