XRP Slams Into $3.09 Wall - Bears Now Eyeing $2.96 Lifeline Zone

XRP just hit a brick wall at the $3.09 resistance level—traders are now watching to see if the bears can push it down to the critical $2.96 demand zone.

Market Pulse: Rejection at Key Level

The digital asset got smacked down hard after testing that psychological barrier. Now everyone's wondering if the support at $2.96 will hold or if we're looking at another 'crypto correction'—because apparently 20% daily swings are totally normal in traditional finance circles.

Technical Breakdown: Where Next?

Price action suggests the bears are taking control after that rejection. The $2.96 zone represents make-or-break territory—break below that and things could get messy real quick.

Volume tells the real story here. Without significant buying pressure at these levels, that demand zone might not demand much of anything. Typical crypto—where 'support' is just resistance that hasn't happened yet.

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

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09 Resistance, Bears Target $2.96 Demand Zone appeared first on crypto Adventure.