XRP Bulls Aim for $3.20 as $2.89 Support Holds, Technical Patterns Suggest Upside

XRP Tests $3.08 Resistance, Consolidates Near $3.00
27/8/2025

XRP briefly touched $3.08 on heavy trading volume before consolidating near the $3.00 psychological mark, signaling cautious momentum as investors weigh upside potential.

Market Context
CME Group reported that its crypto futures suite surpassed $30 billion in notional open interest, with XRP futures crossing $1 billion in just over three months—the fastest debut for a new contract. Broader crypto sentiment improved following Fed Chair Jerome Powell’s Jackson Hole remarks, which heightened expectations of potential policy easing later this year.

Despite U.S. regulatory uncertainty, Ripple’s cross-border payment pilots continue to attract attention from corporate treasuries, supporting XRP’s institutional interest.

Price Action
Between 03:00 GMT on August 26 and 02:00 GMT on August 27, XRP gained 3.6%, trading within a $0.20 intraday range from $2.89 to $2.99. The sharpest move occurred at 19:00 GMT on August 26, when XRP briefly hit $3.08 on 167.6 million volume before pulling back.

In the final trading hour, XRP stabilized between $2.99 and $3.00, consolidating gains after the intraday spike.

Technical Analysis

Support: $2.89 remains the key floor, with $2.99 now acting as a psychological base.
Resistance: $3.06–$3.08 is the near-term ceiling, reinforced by high-volume rejection.
Momentum: RSI rose from oversold 42 to the mid-50s, signaling stabilizing trend.
Volume: The $3.08 test saw over 167 million tokens trade, more than twice the 30-day average, highlighting institutional activity.
Patterns: A double bull-flag and rounding-bottom formation suggest potential further upside, with longer-term breakout targets around $5.85.
Compression: Price coiling near $3.00 indicates readiness for a directional move.

Key Levels to Watch

Bulls: Holding above $2.99–$3.00 could pave the way toward $3.20 and beyond.
Bears: A break below $2.84 may trigger losses toward $2.80.
Traders will closely monitor CME open interest and institutional flows for confirmation of sustained momentum.