XRP slides through key levels in a high-volume selloff before stabilizing at major support, with regulatory clarity now in place after the Ripple-SEC settlement.
Technical Analysis Overview
XRP falls 5% in the 24-hour period ending August 9, dropping from $3.34 to $3.20 before recovering to $3.30. The move spans a $0.17 range, marking 5.24% volatility.
Selling pressure peaks between 14:00-15:00, when price collapses from $3.36 to $3.20 on 209.67 million volume — the largest single-hour print of the session.
Buyers defend the $3.20 zone, triggering a rebound to $3.33 by 19:00. Resistance forms at $3.31-$3.33, with support locked at $3.20.
News Background
The Securities and Exchange Commission and Ripple Labs have officially ended their five-year legal battle, jointly dismissing their appeals in the XRP case. The Second Circuit Appeals Court recognized the filing, with both parties bearing their own costs.
“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,” Ripple’s chief legal officer, Stuart Alderoty, said on X.
Price Action Summary
• XRP drops from $3.34 to $3.20 in Aug. 8, between 14:00-15:00 UTC in a high-volume selloff, printing 209.67 million tokens traded.
• Buyers defend $3.20 support, sparking recovery to $3.33 by 19:00.
• Resistance builds at $3.31-$3.33 as profit-taking caps upside momentum.
Technical Indicators Analysis
• $3.20 confirmed as key support with volume validation at 209.67 million.
• Resistance established at $3.31-$3.33 during recovery phase.
• Bull flag structure forming above $3.28, suggesting potential upside continuation if $3.33 breaks.
• Volume spike to 1.86 million at 01:52 indicates targeted accumulation attempts.
• 5.24% intraday volatility highlights a defined range-bound trade between $3.20 and $3.33.
What Traders Are Watching
• Whether $3.20 holds on the next retest amid continued institutional positioning
• Breakout confirmation above $3.33 to signal end of profit-taking phase
• Follow-through buying linked to post-settlement regulatory clarity
• ETF-related flows from Japan’s SBI filing and potential spillover into U.S. markets