XRP Drops Below $3.00 as Volume Triples, Bearish Momentum Takes Hold

XRP came under heavy pressure on August 6, falling 4.2% in 24 hours as surging volume confirmed a sharp momentum shift. The token dropped from $3.06 to $2.93 during the session, with volatility spiking and bearish sentiment prevailing into the close.

Volume Surge Marks Key Reversal

The sharpest move occurred at 14:00, when XRP plunged from $3.04 to $2.97 on a volume surge of 169.41 million—over three times its daily average of 52.73 million. The move established $3.04 as short-term resistance, while $2.93 held as the immediate support level.

Session Ends with Downside Extension

Price action continued to deteriorate in the final trading hour. XRP slipped from $2.94 to $2.92 between 01:15 and 02:14, with a late spike of 1.6 million in volume confirming bearish control. The day’s intraday range stretched $0.13, from a high of $3.08 to a low of $2.93.

Technical View: Trend Remains Weak

XRP’s failure to sustain levels above $3.00 and its rejection at $3.04 signal potential continuation to the downside. Short-term moving averages have turned lower, and elevated volume during the decline reinforces the bearish bias.

Should $2.93 give way, the next support levels lie near $2.87 and $2.80, based on historical price congestion zones. No clear bullish reversal patterns have emerged yet.

Key Levels to Watch:

• Resistance: $3.04
• Support: $2.93, followed by $2.87 and $2.80
• Consolidation range: $2.96–$2.97

Market Context:

Broader market sentiment remains cautious amid rising geopolitical tensions and renewed trade instability. XRP’s weakness reflects the ongoing risk-off tone in digital assets.