XRP Rebounds to $2.93 Amid Volume Spike as Traders Eye $3.17 Breakout Zone

XRP closed higher Tuesday after a volatile session that saw the token recover from steep intraday losses. Prices dipped as low as $2.82 before rebounding to end the day at $2.93, powered by a sharp rise in trading volume and strong support buying — even as broader markets absorbed $360 million in liquidations.

Market Context: Security Worries and Whale Activity

The recent downturn in XRP followed a blockchain security downgrade, which raised concerns about network vulnerabilities and triggered fresh selling pressure. Whale wallets remained active on both sides of the market — some unloading into strength, while others defended key support levels during the pullback.

The broader crypto market has been under pressure as institutions rotate out of risk assets, leading to significant liquidations across both major coins and memecoins. The total wipeout stood at $360 million over the past 24 hours.

Price Action Overview

• XRP swung 5.69% between Aug. 20–21, ranging from a low of $2.82 to a high of $2.99.
• The token hit session lows during the 13:00–15:00 UTC window before rebounding sharply.
• A surge in trading volume — peaking at 155 million XRP during the 14:00 UTC hour — marked the turning point, more than 2.5x the 63 million daily average.
• Bulls defended the $2.82 support zone, while bears rejected further upside at $2.99, creating a tight range for the session.
• XRP ended the day at $2.93, with momentum tilted bullish heading into the next session.

Technical Picture

• Support Level: $2.82 held firm under pressure, attracting strong bid flows and validating it as a short-term floor.
• Resistance: Sellers capped upside at $2.99, leaving $3.17 as the key breakout threshold to watch.
• Volume Confirmation: The 155 million turnover during the rebound reflects possible institutional-sized buying.
• Intraday Pattern: A sharp V-shaped reversal from $2.82 to $2.93 suggests accumulation interest.
• Morning Follow-Through: XRP edged up another 0.34% to $2.94, with hourly volume climbing to 580,000 — well above the 470,000 average.

What Traders Are Watching

• Whether $2.99 can be flipped into support, setting up a breakout attempt toward the $3.17–$3.20 zone.
• Ongoing whale behavior, particularly signs of continued accumulation or renewed distribution near the $3.00 mark.
• Macro spillover risk, with liquidation-driven volatility and institutional positioning likely to impact short-term direction.
• The resilience of the $2.82 support level on any pullbacks, which may determine the strength of the recovery trend.

With volume surging and short-term momentum favoring bulls, traders are now watching for a decisive move through $3.00 — a development that could open the path toward a broader rally. However, failure to clear resistance or another round of liquidations may leave XRP vulnerable to a retest of recent lows.