XRP experienced a significant rally between August 3 and August 4, surging 6% from $2.83 to a peak of $3.03. This upward momentum was fueled by strong institutional trading volume, which exceeded 110 million during its peak hours. However, the rally was met with heavy selling pressure at the $3.03 resistance level, leading to profit-taking and a partial reversal.
The price action saw an acceleration between 23:00 and 01:00 as XRP broke through multiple resistance points, only to pull back 1% in the final hour of trading, closing at $3.00. This late-session reversal formed a descending pattern of lower highs and ended with a complete halt in trades, suggesting end-of-session position locking.
From a technical perspective, key support was confirmed at $2.82, while a new resistance level was established at $3.03. The volume spikes during both the breakout and the subsequent reversal indicate significant institutional activity. Traders are now watching for a potential breakout above $3.03, which could lead to a move toward the $3.07–$3.10 range, or a correction to support levels at $2.97 and $2.92.
This move in XRP is part of a broader altcoin rally, as traders shift capital into more volatile assets in a search for short-term gains, while macroeconomic factors like sticky inflation and cautious central bank stances continue to pressure traditional equity markets.
August 2025, Cryptoniteuae
