XRP joined the $ 3 of the last session, with a volume of negotiation containing more than 6% above its weekly base.
New context
• The XRP rally occurs in the middle of the stabilization of wider cryptography, the altcoins following modest entries after the withdrawal last week.
• Channel data reported institutional flows, with almost 155 million XRP turnover during recovery periods, well above the daily average of 63 million.
• The market chatter initially suggested that XRP reached new peaks, although the peak of all real time remains $ 3.84 compared to January 2018 – stressing that this is a recovery test, no price discovery.
Summary of price action
• XRP switched 5.1% between $ 2.84 and $ 2.99 in the 11 p.m. window from August 20 to August 9:00 p.m.
• The strongest thrust occurred around 7:00 p.m. UTC on August 20, when the token went from $ 2.84 to $ 2.99 out of 80.6 million volumes.
• Subsequent sessions have shown consolidation, with repeated rebounds in the range of $ 2.89 to $ 2.93, which confirms it as a provisional support.
• A sharp whip in the last hour (August 21, 11: 03-12: 02) saw a swing of 8.6%: from $ 2,916 to $ 2,901 out of 960,000 units, before stabilizing.
Technical analysis
• Support: $ 2.89 to $ 2.93 The area shows several solid rebounds on the higher participation in the average.
• Resistance: $ 2.99 – $ 3.00 Psychological Caps Momentum; Repeated visible discharges.
• Volume: 80.65 million during the rally against a basic line of 24 hours of around 63 million.
• Model: Lateral consolidation after the bullish impulse; Momentum tilting slightly downwards.
What traders look at
• that the $ 2.93 support has in the short term or gives way to a retain of $ 2.82.
• Get out of $ 3.00 as a potential trigger for the continuation of trends.
• Sustainability of volume – If the circuits shrink, the bulls may lose control.
