- Volume in one hour reached 436.98 million units, one of the highest this quarter.
- Support remains between $3.05–$3.09 during heavy selling.
- Resistance at $3.13 and $3.20 could prompt a short-term reversal.
XRP’s price dropped over the past 24 hours, sliding from $3.34 to $3.10 as cryptocurrency markets faced more than $1 billion in liquidations.
The token currently trades at $3.10, down 3.95% over the same period, after hitting $3.05 — its lowest level in more than a week — before finding some stability.
Source: CoinMarketCap
The heavy midday selling produced one of the largest hourly volumes this quarter, with institutional buying appearing near the lower price band.
Despite the pressure, late-session purchases helped the token recover above the short-term resistance, suggesting early accumulation by large holders.
Traders are watching closely to determine whether this shift marks the start of a broader recovery or simply a pause before further declines.
Market-wide liquidations trigger sharp drop
The decline formed part of a broader market correction that coincided with profit-taking in U.S. equities, shifting investor sentiment. Market liquidations exceeded $1 billion, and XRP experienced a capitulation around midday.
At 12:00, prices fell from $3.22 to $3.09 amid heavy selling, contributing to a volume spike of 436.98 million units in one hour. This was among the largest trading surges for the token this quarter, reflecting a significant amount of speculative positions being unwound rapidly.
Ripple’s CTO reiterated the XRP Ledger’s readiness for integration into global financial infrastructure during the sell-off, providing a layer of fundamental confidence despite short-term volatility.
Price action and volatility levels
Over the 24-hour period from 03:00 on August 14 to 02:00 on August 15, XRP traded between $3.34 and $3.05, representing an 8.69% volatility swing.
After the midday drop, price settled into a narrow band between $3.05 and $3.13, indicating reduced selling momentum. During the final 60 minutes of trading, two notable volume inflows of 4.53 million and 3.76 million units appeared, signaling renewed institutional interest at support.
Such inflows into spot markets following a sharp decline often indicate strategic positioning by larger investors seeking to capitalize on discounted levels.
Key technical levels to watch
Support has been confirmed between $3.05 and $3.09, tested repeatedly during intense selling periods. Immediate resistance sits at $3.13, with a secondary level at $3.20. Falling volumes after the midday peak point to exhaustion of the liquidation wave.
Recovery above $3.10 on relatively low liquidity suggests an early-stage re-accumulation could be underway, although follow-through buying above $3.13 will be necessary to confirm a short-term reversal.
Factors traders are monitoring
Market participants are watching whether $3.05 will hold during the next volatility wave, especially if market-wide liquidations recur.
Activity in large wallets is being tracked for signs of accumulation, while funding rate dynamics on XRP derivatives markets are monitored for potential leveraged re-entries.
Correlation with equity markets remains significant, as expectations of rate cuts from the U.S. central bank continue to influence risk sentiment.
With global markets still sensitive to macroeconomic signals, cryptocurrency price action is expected to remain closely linked to investors’ appetite for risk assets.