XRP Battles Bears at $3.09 – Will the $2.96 Demand Zone Hold?

XRP bulls just got smacked down at the $3.09 resistance wall—now traders are eyeing the $2.96 demand zone as the next battleground.

Key Levels to Watch:

- Resistance: $3.09 (rejected hard)

- Support: $2.96 (last line of defense before things get ugly)

Market sentiment flipped faster than a crypto influencer's opinion during a dip. If $2.96 cracks, expect panic sells—because nothing unites traders like herd mentality and bad decisions.

Meanwhile, institutional investors are probably sipping coffee and waiting for retail to bleed out first. Classic.

Technical Analysis Shows Mixed Signals

XRP traded within a $0.11 range between $2.94 and $3.10 across the 24-hour session from August 18 05:00 to August 19 04:00, representing nearly 4% intraday volatility. A bullish breakout during the 17:00 trading hour on August 18 pushed prices from $2.97 to $3.10, supported by heavy volume of 131 million—double the 24-hour average of 66.8 million. This established short-term support near $3.00.

Momentum faded quickly, however. The token rejected multiple times at $3.09, sliding into consolidation around $2.99. An aggressive pullback unfolded during the 03:00 hour on August 19, when XRP dropped from $3.04 to $2.99.

Key Market Movements

• XRP declined 1% in the final 60 minutes, sliding from $3.03 to $2.99 as volumes spiked to 5.26 million—five times the hourly average
• Distribution pressure accelerated around the $3.00 psychological threshold, triggering stop-loss liquidations during the 03:43–03:46 interval
• A bullish surge earlier in the session (August 18 17:00) lifted XRP from $2.97 to $3.10 on 131 million volume, far above average activity

Market Dynamics Drive Sharp Reversal

The late-session breakdown confirmed institutional selling near $3.00, erasing the earlier breakout’s momentum. While $2.99 provided intraday stabilization, the volume-backed rejection at $3.09 highlights growing resistance pressure.

XRP now sits at a crossroads: holding above $2.99 could allow bulls to retest the $3.08–$3.09 cluster, while failure risks a deeper correction toward the $2.96 demand zone.

Technical Indicators Summary

• Range: $0.11 (3.8%) between $3.10 peak and $2.94 trough
• Resistance: $3.09, rejected repeatedly through evening sessions
• Support: $3.00 psychological level, tested under high-volume distribution
• Risk: Breakdown toward $2.96 demand zone if $2.99 fails
• Signal: Bullish triangle structure intact, but momentum fading under profit-taking