XRP Hits $3.05 on Record-Breaking Volume — AI Models Maintain $3.12 Target Despite Resistance
XRP surged to $3.05 during a volatile trading session, propelled by unprecedented short-term volume and renewed institutional activity. While the rally met resistance at $3.09 and technical indicators signaled potential exhaustion, algorithmic forecasts continue to point toward $3.12 by the end of August.
Market Snapshot
Over the 24-hour window ending August 4, XRP climbed 4.45% from $2.92 to $3.05, moving within a $0.18 range and crossing the key $3.00 psychological threshold. The rally was fueled by extreme trading intensity, including a one-minute volume spike of $33 million — one of the largest in XRP’s history.
Trading volume peaked during the 13:00–14:00 UTC session, with nearly 152 million trades processed, underscoring significant short-term participation and momentum.
Technical Breakdown
- Resistance Confirmed at $3.09: XRP was rejected just below $3.10 after touching a session high of $3.08. The pullback occurred on 69.89M volume, well above the daily average.
- Support at $2.97: Heavy bid activity between 05:00–06:00 UTC established support at $2.97, backed by 100M+ in combined volume over two consecutive candles.
- Indicators Mixed: A 9-count sell signal from the TD Sequential appeared on the 3-day chart, often signaling trend fatigue. RSI on the 1H and 4H charts remains elevated but has yet to cross into overbought territory.
Institutional Flows & Whale Activity
While the breakout sparked $2.10 billion in institutional sell-side activity, $14 million in leveraged long positions were opened simultaneously — highlighting diverging sentiment among professional traders.
On-chain data revealed aggressive selling from high-value wallets and smart money funds, suggesting the rally may have been driven by short-term positioning ahead of key regulatory events.
Regulatory Wildcard
All eyes remain on the U.S. Securities and Exchange Commission (SEC), which is expected to issue updated guidance on XRP’s classification by August 15. The outcome is expected to act as a major price catalyst — with potential to either reinforce the rally or trigger renewed downside.
Despite the looming uncertainty, multiple AI-powered trading platforms continue to forecast upside toward $3.10–$3.12 by month-end, assuming market volatility compresses and $3.00 support holds.
Key Areas to Watch
- Sustained Hold Above $3.00: Maintaining this zone could set the stage for a retest of $3.09 and potential breakout.
- Volume-Backed Breakout: Any move beyond $3.09 would need confirmation through high volume and strong market depth.
- Institutional Re-entry: Traders are watching for renewed institutional buying above $3.10 or signs of increasing long exposure at current levels.
- Regulatory Impact: The SEC’s mid-August decision could define the next phase of XRP’s trajectory.
