- One-hour volume peaks at 436.98 million units, among the highest in the third quarter.
- Support holds between $3.05 and $3.09 amid heavy selling.
- Resistance at $3.13 and $3.20 points to a potential short-term reversal.
The price of XRP dropped over the past 24 hours, sliding from $3.34 to $3.10 as the broader crypto market absorbed more than $1 billion in liquidations.
The token is currently trading around $3.10, down 3.95% over the same period, after briefly touching $3.05 — the lowest level in more than a week — before stabilizing.
Source: CoinMarketCap
Heavy midday selling produced one of the quarter’s largest single-hour volumes, while institutional buying appeared to support the price near the lower end of the range.
Despite the pressure, late-session buying pushed the token back above short-term resistance, suggesting possible early accumulation by larger holders.
Traders are watching closely to see whether this action marks the start of a broader recovery or merely a pause before further downside.
Market-wide liquidations trigger sharp decline
The drop forms part of a wider market correction that coincided with profit-taking in U.S. equities, which shifted investor sentiment. Market-wide liquidations exceeded $1 billion, and XRP experienced a midday capitulation event.
At 12:00, intense selling drove prices from $3.22 down to $3.09, producing a one-hour volume spike of 436.98 million units. This was one of the largest trading surges for the token this quarter, reflecting a rapid unwind of speculative positions.
Ripple’s chief technology officer reiterated that the XRP Ledger remains available for integration into global financial infrastructure during periods of economic slowdown, a message that provides some fundamental confidence despite short-term volatility.
Price action and volatility levels
Over the 24-hour window from 03:00 on August 14 to 02:00 on August 15, XRP traded between $3.34 and $3.05, a volatility swing of 8.69%.
After the midday drop, the price consolidated in a tight range between $3.05 and $3.13, signaling a reduction in sell-side momentum. In the final 60 minutes of trading, two notable volume surges of 4.53 million and 3.76 million units appeared, indicating renewed institutional interest at the support level.
Such inflows into spot markets following a sharp decline often point to strategic positioning by larger investors looking to take advantage of discounted price levels.
Key technical levels to watch
Support has been affirmed between $3.05 and $3.09, repeatedly tested during periods of heavy selling. Immediate resistance now sits at $3.13, with a secondary resistance at $3.20. Declining volumes after the midday peak suggest that the liquidation phase is easing.
A rebound above $3.10 in low-liquidity conditions suggests early-stage re-accumulation may be underway, though sustained buying above $3.13 will be needed to confirm a short-term trend reversal.
Factors traders are monitoring
Market participants are watching whether the $3.05 level will hold in the next bout of volatility, particularly if market-wide liquidations reoccur.
Large-holder wallet activity is being tracked for signs of accumulation, while funding-rate movements in XRP derivatives markets are under review for potential leveraged repositioning.
Correlation with equity markets remains significant, with ongoing expectations around U.S. Federal Reserve rate cuts continuing to influence risk appetite.
As global markets remain sensitive to macroeconomic signals, crypto price action is likely to stay closely tied to investors’ willingness to take on risk.