What to know:
- XRP took a little tumble, dropping 2% from $3.19 to $3.14 in the last 24 hours. Not the biggest shocker, but hey, it did hit a high of $3.32 earlier. Classic rollercoaster vibes. 🎢
- The Ripple-SEC drama is officially over. Bye-bye, five-year-long legal circus! This juicy settlement pumped XRP’s trading volumes by a whopping 208%, reaching $12.4 billion. 💰
- But don’t get too comfortable. The price still dances to the tune of global trade squabbles and those pesky monetary policies. So, yeah… hold onto your wallets. 💸
Technical Analysis Overview
Yikes! XRP had a 2% slip in the last 24 hours, sliding from $3.19 to $3.14 after hitting a peak of $3.32 at 08:00. It seems the post-settlement party didn’t last long. But let’s face it, two days of soaring gains? No wonder the profit-taking storm came through. The 19:00 hour saw a nice little dip from $3.20 to $3.15 on 73.87 million volume – definitely a moment for the traders to flex their muscles. 💪
So, here’s the situation: Support is solid at $3.13, with resistance chilling at $3.27. A perfect setup for some dramatic range-bound action, my friends. And in the final hour, we saw a tiny bounce back to $3.14, thanks to some late-night dip-buying drama. 🎭
News Background
In case you missed it, Ripple Labs and the SEC decided to kiss and make up after almost five years of legal drama. They’ve wiped away the appeals in the XRP case, and now the coast is clear for some serious institutional action. And guess what? XRP’s daily trading volumes soared by 208%, reaching a cool $12.4 billion. 💥
But don’t get too carried away. The market is still very much at the mercy of those big, scary macroeconomic factors, like trade wars and shifting interest rates. Sigh. Can’t escape it. 🏦
00-August 12 00:00. Nothing too catastrophic, but it wasn’t a walk in the park. 🏖️
• A daring intraday peak of $3.32 at 08:00 faced heavy resistance, prompting a sell-off. It’s like the market had FOMO. 😱
• 19:00 saw the big drop from $3.20 to $3.15 on 73.87M volume – the heaviest of the session. Major sellers making moves! 🚨
• Support at $3.13 held strong; resistance parked at $3.27. Classic market tug-of-war.
Market Analysis and Economic Factors
What’s going on here? Well, the drop is just a good ol’ case of profit-taking after XRP’s post-settlement spike. Big whales are rebalancing, but don’t panic. Bids are still hanging around the $3.13-$3.15 range, so no signs of a market meltdown yet. 🎈
Of course, the big bad macroeconomic backdrop is still there, but XRP’s fresh regulatory clarity gives it a nice little shield, unlike its peers who are stuck in the middle of global chaos. ⛑️
Technical Indicators Analysis
• Support: $3.13 (it’s been tested more than a last-minute exam prep!)
• Resistance: $3.27-$3.32 (repeated rejection, no one’s letting that pass easily)
• Intraday range: $0.19 (6% volatility, a wild ride)
• Heavy 19:00 volume? Yeah, looks like institutional players got busy selling.
• Late-session buying made sure the price stayed above $3.13. A little market heroism for ya. 🦸♂️
What Traders Are Watching
• Will XRP break through $3.27 and resume its upward momentum? Only time will tell…⏳
• Can $3.13 hold strong amidst more profit-taking waves? Stay tuned! 📉
• Are institutional inflows here to stay post-settlement? Let’s hope so. 💼
• The macro chaos – will it spill over and mess with XRP again? Yikes. 🌍
Read More
- MNT PREDICTION. MNT cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- GBP EUR PREDICTION
- HYPE PREDICTION. HYPE cryptocurrency
- USD PKR PREDICTION
- USD UAH PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- EUR GBP PREDICTION
- USD ARS PREDICTION
- EUR AUD PREDICTION
2025-08-12 07:22