XRP Rebounds After Steep 10% Drop, Signals Potential Bottom Amid Rising Volume

Technical Setup Points to Recovery as Institutional Demand Kicks In

XRP is showing early signs of a bullish reversal after a sharp 10.14% decline in the 24-hour period ending July 24 at 11:00 GMT. The price dropped from $3.45 to $3.10, breaching key support levels before recovering from a session low of $2.96.

Key Developments

The selloff intensified during the July 23 afternoon session (13:00–21:00 GMT), with XRP falling below the $3.20 threshold and encountering resistance near $3.23–$3.25. However, the tide turned early on July 24, as XRP bounced sharply off the $2.96 level, initiating a recovery marked by a series of higher lows and stronger buying pressure.

Trading volumes surged past 175 million—well above the daily norm—suggesting institutional players stepped in during the oversold phase. By the final hour of the session, XRP had reclaimed $3.10, closing at $3.11 with a volume spike of 5.6 million, the session’s highest.

Price Action Snapshot

• Decline: XRP plunged from $3.45 to $3.10, hitting a low of $2.96
• Recovery: A sequence of higher lows formed: $2.96 → $3.06 → $3.09 → $3.11
• Breakout Zone: Key momentum burst occurred between 10:46–10:48 GMT, lifting price from $3.06 to $3.09
• Support Reclaimed: $3.10 now serves as confirmed support following a strong finish

Volume-driven buying between 10:31–10:37 GMT at the $3.06–$3.07 level—totaling 4.6 million in transactions—provided additional confirmation of demand. The upward structure suggests a shift in sentiment after an extended correction.

Technical Outlook

• Range: 24-hour high and low between $3.45 and $2.96
• Resistance: Short-term resistance sits at $3.23–$3.25; a break above $3.15 may confirm trend reversal
• Volume Spike: Peak volume of 5.6 million during 11:08–11:10 GMT
• Support: $3.10 reestablished as critical near-term support

What Traders Are Monitoring

• Can XRP sustain a close above $3.15 to signal momentum confirmation?
• Will price break through the $3.23–$3.25 resistance band in coming sessions?
• Are institutions continuing to accumulate in the $3.00–$3.10 range?
• How will broader crypto market sentiment and regulatory developments in the U.S. impact price action?

With XRP showing a clean series of ascending lows and strong demand on dips, traders are now watching closely for a decisive move above $3.15 to validate the start of a new bullish phase.