After Slipping From $3, XRP Finds Support at $2.75 — Is a Rebound in Sight?

XRP Finds Support at $2.75 After Slumping From $3 — Market Awaits Next Move

Overview:
XRP slipped nearly 9% in the 24 hours leading into August 3 (04:00 UTC+7), falling from $3.02 to $2.75 before bouncing modestly to $2.82. The drop was triggered by a sharp uptick in institutional selling, with volumes more than doubling their 24-hour average. While the $2.75 level has emerged as a near-term support zone, the recovery appears tentative as XRP struggles to reclaim key resistance at $2.84.

Key Market Signals

Institutional liquidation intensified during the U.S. afternoon session, with sell-side volumes reaching 222.24 million XRP between 14:00 and 18:00 UTC, up 183% from the average of 78.52 million XRP.
Price briefly stabilized after the dip, but upside momentum stalled at $2.84, highlighting lingering supply overhead.
XRP ended the session at $2.82, suggesting early signs of base-building, but without decisive bullish confirmation.

Technical Landscape

The sharpest leg down coincided with a volume spike at $2.75, a common technical marker of capitulation or temporary exhaustion.
XRP is currently consolidating between $2.75 and $2.84, with the lower boundary acting as initial support and the upper bound as short-term resistance.
A notable decline in end-of-day volume — down to ~650,000 XRP per minute, from a peak of 3.7 million XRP per minute — indicates a pause in directional conviction among traders.

Macro Backdrop

The move comes amid a broader pullback in risk assets, as rising geopolitical tension and ongoing trade uncertainty spark renewed volatility. Institutional traders appear to be scaling back exposure to altcoins, including XRP, amid concerns over slowing economic growth and uneven monetary policy outlooks across major economies.

Market Performance Recap

High: $3.02
Low: $2.75
Close: $2.82
Daily Drawdown: ▼8.91%
Range: $0.27

What’s Next for XRP?

Traders are watching for:

A retest of the $2.75–$2.76 support to confirm whether buyers are stepping in at current levels.
A break above $2.84, which would indicate improving sentiment and could open the door to a short-term rally.
On-chain and exchange flow data, which may reveal whether recent selling pressure is easing or just pausing.

Broader sentiment, as reflected in the CoinDesk 20 Index, remains cautious, with macro events — particularly U.S. economic data and trade headlines — likely to influence XRP’s next directional move.