XRP Holds Above $3 Despite Bank Opposition to Ripple’s License Bid

Ripple’s XRP gained 5% on the day, holding firm above the psychologically key $3.00 level despite renewed regulatory headwinds. The price action remained volatile within a tight range of $2.83 to $3.11, with upside attempts repeatedly capped by resistance as trading volume surged past 110 million XRP. A single $33 million transaction within one minute briefly destabilized order books, signaling heightened institutional activity.

Banking Industry Pushes Back

A coordinated objection by the Bank Policy Institute (BPI) — representing 42 major financial institutions — added fresh uncertainty to Ripple’s ongoing efforts to secure a banking license. Despite this, markets remained unfazed, with XRP pushing higher before settling at $3.04, capping a 9.8% intraday swing.

• XRP rallied from $2.83 to $3.11 before closing at $3.04.
• Support at $3.00 held, despite intraday selling pressure and rejection near $3.11.
• Institutional flows were neutral: $2.1B in divestments offset by $14M in long leverage bets.
• AI models project a move to $3.12 by end of August, though TD Sequential signals caution.

Price Action Recap

XRP touched its session high of $3.11 around 17:00 UTC before reversing on a spike of nearly 70 million XRP traded. A support floor emerged near $2.97 during the Asian trading hours, buoyed by a pair of 50M+ XRP block trades. The final hour of the session saw consolidation at $3.03, despite 2.1 million XRP sold during a failed breakdown attempt.

Technical Outlook

• A clear consolidation band has formed between $3.00–$3.02.
• Resistance at $3.09–$3.11 has capped multiple attempts, indicating short-term exhaustion.
• Five separate hourly candles exceeded the average daily volume of 47.7 million XRP, suggesting ongoing accumulation.
• TD Sequential on the 3-day chart has completed a 9-count — typically a warning of local topping behavior.
• A confirmed breakout above $3.05 could open the door to $3.15+, provided hourly volume exceeds 50M XRP.

What Traders Are Monitoring

• Whether Ripple publicly addresses the BPI’s objection and how regulators respond.
• If $3.00–$3.02 remains a key accumulation zone for whales and institutions.
• Weekend volume trends — a decline could prompt a retest of $2.92–$2.97.
• Confirmation of an uptrend on a sustained break above $3.05, targeting the $3.12–$3.25 zone.

Despite macro uncertainty, XRP’s resilience above $3.00 and elevated trading interest suggest that bulls still have control — for now.