XRP is holding steady above $2.98 support after a sharp $273 million spike in trading activity on Tuesday, keeping the token locked near the key $3.00 level.
Market Context
XRP has advanced nearly 9% over the past week, supported by the launch of Gemini’s XRP-rewards Mastercard with WebBank, which offers up to 4% cashback in XRP. The rollout boosted Gemini ahead of Coinbase in U.S. iOS app rankings and drew fresh retail interest.
Institutional flows are also growing, with $25 million in daily inflows into XRP-linked products. Analysts suggest that if the current consolidation breaks upward, long-term targets could stretch toward $27.
Trading Recap
During the 24 hours ending 27 August 04:00 GMT, XRP traded between $2.95 and $3.05, closing at $2.98, down 1.3% on the session.
- At 20:00 GMT, volume spiked to 273M, over 4x the daily average, as XRP briefly hit $3.05 before sellers capped gains.
- In late trading, the token repeatedly tested $2.975 support, holding firm despite profit-taking.
Technical Levels
- Support: $2.975–$2.98
- Resistance: $3.02–$3.04
- Momentum: RSI mid-50s (neutral); MACD nearing bullish crossover
- Pattern: Narrow consolidation suggests base-building; break above $3.04 could fuel upside momentum
Key Watch Points
- Upside target at $3.20 if resistance clears
- Downside risk at $2.96–$2.94 if support falters
- Impact of Gemini’s card launch on retail adoption
- Continuation of $25M+ daily institutional inflows to sustain momentum
For now, XRP remains in a compression phase at the $3.00 threshold, with both bulls and bears waiting for a decisive move.
