XRP Gains 9% Ahead of Pullback That Limits Rally Around $3

XRP Breaks Above $3 on Volume Surge Amid Fed Signals and Rising On-Chain Activity

XRP experienced a notable rally during the August 22–23 session, pushing past multi-month resistance near $3.10 after a period of sideways trading.

This price action coincided with dovish remarks from Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium, which heightened expectations of a September rate cut and boosted risk sentiment across crypto markets.

Meanwhile, on-chain settlement volumes on the XRP Ledger surged by 500% earlier this week, reinforcing optimism about institutional interest despite ongoing token distribution by whales.

Price Highlights

XRP gained 8.56% over the 23-hour period from August 22 at 11:00 UTC to August 23 at 10:00 UTC, moving from $2.83 to $3.03, according to CoinDesk Research.
The token fluctuated between $2.79 and $3.10, an 11% intraday trading range.
The breakout happened at 14:00 UTC on August 22, with XRP jumping from $2.84 to $3.03 on volume of 667.4 million—five times the session average.
A late-session pullback trimmed gains by 0.47%, leaving XRP near $3.01 at close.
Support has solidified around the $2.97–$3.00 level, while resistance holds firm between $3.08 and $3.10.

Technical Overview

Breakout Zone: Accumulation between $2.84 and $2.97 sparked the upward move on heavy volume.
Resistance: Sellers stepped in strongly at $3.08–$3.10, limiting further upside.
Support: A new base near the $2.97–$3.00 mark was repeatedly defended during the session.
Volume: The breakout candle saw 667.4 million tokens traded, 72% above the weekly average.
Pattern: The setup suggests continuation if $3.00 support holds, but fading volume late in the session hints at consolidation ahead.

Key Factors to Watch

Whether $3.00 support can hold amid profit-taking or if a deeper retracement to $2.95 may occur.
Confirmation of a decisive break above $3.08–$3.10, which could unlock momentum toward $3.25.
Upcoming Federal Reserve policy updates ahead of the September meeting and their impact on market risk appetite.
On-chain settlement volumes, which recently surged to 844 million tokens in one day, signaling growing enterprise adoption.
Whale activity and exchange flows, which continue to influence intraday price movements.