XRP faced intense selling pressure following an earlier upswing, with the digital currency retreating below the $3.00 level. The recent dip came during the final hour of trading on Monday, driven by high volume that suggests sharp institutional selling and triggered stop-loss orders.

Volatility Highlights Resistance Near $3.09

During the 24-hour period from August 18 at 05:00 to August 19 at 04:00, XRP fluctuated between $2.94 and $3.10—marking a range of $0.11, or nearly 4%. A strong rally occurred around 17:00 on August 18, pushing XRP from $2.97 to $3.10. This spike came on 131 million in volume, approximately double the 24-hour average of 66.8 million, solidifying short-term support around the psychologically important $3.00 mark.

Despite this upward push, momentum waned swiftly. XRP consistently failed to overcome the $3.09 resistance, instead consolidating near $2.99. By 03:00 on August 19, the market witnessed a notable drop from $3.04 to $2.99, underscoring weakened buying strength.

Intraday Breakdown Suggests Mounting Bear Pressure

• XRP ended the session down 1% within the last 60 minutes, declining from $3.03 to $2.99 amid a surge in volume to 5.26 million—roughly five times the average hourly figure.
• Bearish momentum intensified around the $3.00 level, triggering multiple stop-loss sell-offs between 03:43 and 03:46.
• The bullish momentum earlier in the session (at 17:00 on August 18) saw XRP rise sharply from $2.97 to $3.10 on a trading volume far exceeding typical levels.

Bearish Reversal Counters Earlier Strength

What started as a promising breakout quickly turned into a reversal late in the session as significant selling emerged just below $3.10. The rejection near $3.09, compounded by increasing volume, hints at rising resistance pressure. Although the price stabilized near $2.99, XRP’s failure to maintain its upward momentum signals caution for short-term traders.

At present, XRP trades in a tight range, with bulls likely to test the $3.08–$3.09 zone again if support holds. However, slipping below $2.99 could send the token cascading toward the $2.96 demand area, indicating elevated downside risk.

Technical Dashboard: Key Levels and Patterns

• Price Range: Spanned $0.11 intraday between peak at $3.10 and bottom at $2.94
• Resistance: Firm rejection began at $3.09, signaling a strong sell wall
• Support: The critical $3.00 threshold offered brief price stabilization, now under threat
• Outlook: Breach of $2.99 could initiate further decline to $2.96 demand level
• Trend Watch: A bullish triangle pattern remains viable, but fading volume and profit-taking dampen momentum

Related: XRP Price: $12M Max Pain for Bears

With XRP currently hovering at a pivotal technical zone, market participants are watching closely whether bullish support will rally for another breakout attempt — or whether bears will drag the token into deeper territory closer to $2.96.