- Hourly volume reached 4,369,800 units, marking one of the highest single-hour totals of the quarter.
- Support has held in the $3.05 to $3.09 range despite heavy sell-offs.
- Resistance at $3.13 and $3.20 could prompt short-term pullbacks if buying pressure resumes.
XRP’s price fell over the past 24 hours, sliding from $3.34 to $3.10 as the crypto market absorbed more than $1 billion in liquidations.
The token is currently trading at $3.10, down 3.95% on the day, after finding stability following an intraday low of $3.05—the lowest level in just over a week.
Midday trading saw heavy volume, producing one of the quarter’s largest hourly turnovers, while institutional bids emerged near lower price levels.
Despite the selling pressure, intraday buying pushed the token slightly above a near-term resistance level, suggesting that large holders may have been accumulating earlier than expected.
Traders are watching closely to determine whether this shift signals the start of a broader recovery or simply a pause before additional declines.
Broad market liquidations drove the sharp sell-off
The decline was part of a broader market adjustment that coincided with profit-taking in U.S. equities, which altered overall investor sentiment. Liquidations across the market exceeded $1 billion, and XRP experienced a midday capitulation event.
At 12:00, a wave of selling pushed the price from $3.22 down to $3.09, triggering an hourly volume spike of 436,980,000 units. This was one of the largest trading bursts for the token this quarter and reflected rapid, consecutive closures of highly leveraged positions.
Ripple’s Chief Technology Officer reiterated that the XRP Ledger remains positioned to integrate with global financial infrastructure during economic downturns, offering a degree of fundamental confidence despite short-term volatility.
Price action and volatility
Over the 24-hour window from August 14 03:00 to August 15 02:00, XRP traded between $3.34 and $3.05, with volatility measured at 8.69%.
Following the midday drop, the price settled into a narrow range between $3.05 and $3.13, indicating a loss of seller momentum. In the final 60 minutes of trading, two notable volume spikes of 4,530,000 and 3,760,000 units occurred, signaling renewed institutional interest in the support zone.
Inflow into spot markets after a sharp decline typically suggests large investors are seeking to position strategically at discounted price levels.
Key technical levels to watch
Support is confirmed between $3.05 and $3.09 after repeated tests during the heavy sell-off. Immediate resistance sits at $3.13, with secondary resistance around $3.20. The drop in volume after the midday spike indicates the bulk of forced liquidations may have been exhausted.
A recovery above $3.10 in a low-liquidity environment suggests early re-accumulation may be underway, though a decisive short-term reversal would likely require follow-through buying above $3.13.
Factors traders are monitoring
Market participants are watching whether $3.05 will hold through the next volatility phase, especially if another round of on-chain liquidations occurs within the range.
Observers are tracking large-holder wallet activity for signs of accumulation and monitoring changes in funding rates in XRP derivatives markets to identify potential leverage re-entry.
Correlation with equity markets remains significant, as expectations around Federal Reserve rate cuts continue to influence risk appetite.
Given global sensitivity to macroeconomic signals, cryptocurrency price movements are likely to remain closely tied to investor sentiment toward risk assets.