The XRP cryptocurrency reached a historic high in the moment

XRP XRP $2.99 XRP -2.76% Market capitalization $177.19 billion VOL. 24 hours $0.42 billion has risen in price by 6% over the past day, reaching a high of $ 3.03 and settling at $ 3.00. During the trading period from August 3 to August 4, trading volumes exceeded 110 million, which was the result of institutional demand and an active breakout through several resistance levels. However, after reaching $ 3.03, a significant number of profit-taking orders appeared on the market, which provoked a partial correction and a drop in price to $ 3.00.

Trading volumes during peak hours more than doubled the daily average (52.2 million), which confirms the participation of major players and interest in the asset during the overall growth of altcoins. The main breakouts during the day occurred at $ 2.87, $ 2.92, and $ 2.97, after which profit-taking at $ 3.03 led to a decline in activity.

Confirmed support for XRP is at $ 2.82, while resistance is at $ 3.03. Volumetric surges in trading during breakouts and pullbacks indicate the involvement of institutional participants. In the last hour of trading, the price entered a downward channel, and an attempt to recover quotes at 01:35 failed, signaling a decline in intraday dynamics.

Traders are now closely monitoring a possible breakout of $ 3.03, which could open the way to $ 3.07-$ 3.10. Key support for correction is $ 2.97 and $ 2.92. The dynamics of XRP remains synchronized with the movements of bitcoin and ether, and the future direction will be determined by macroeconomic news and general sentiment in the crypto market.