XRP Hitting $3.04 Resistance Amid Neutral RSI and Turning MACD

XRP is consolidating just above $2.98 support following a $273 million surge in trading volume on Tuesday, keeping the token in a tight range around the $3.00 psychological level.

Market Overview

XRP extended its late-August gains, up nearly 9% over the week, boosted by Gemini’s launch of an XRP-rewards Mastercard with WebBank, offering up to 4% cashback in XRP. The launch propelled Gemini ahead of Coinbase in U.S. iOS app rankings.

Institutional flows into XRP-linked products are estimated at $25 million daily, providing liquidity and market depth. Analysts continue to track potential breakout setups, with long-term targets near $27 if current consolidation resolves upward.

Price Action

In the 24-hour session ending 27 August 04:00 GMT, XRP traded between $2.95 and $3.05, closing at $2.98, a 1.3% intraday decline.

Peak volume occurred at 20:00 GMT, surging to 273.15 million, more than four times the daily average, as XRP briefly hit $3.05 before profit-taking.
In the final hour (03:04–04:03 GMT), XRP consolidated between $2.97–$3.08, with repeated tests of $2.975 support.
Volume spikes of 1.31M at 03:59 GMT and 1.19M at 03:07 GMT coincided with short rallies toward $2.99 resistance.

Technical Summary

Support: $2.975–$2.98 remains key
Resistance: $3.02–$3.04 caps upside attempts
Momentum: RSI mid-50s (neutral); MACD histogram shows potential bullish crossover
Pattern: Consolidation near $3.00 indicates base-building; breakout above $3.04 could signal continuation
Volume: Institutional activity evident, with strong profit-taking at resistance

Watch Points

Bulls target $3.20 if $3.02–$3.04 resistance breaks
Bears monitor $2.96 first downside trigger, then $2.94
Impact of Gemini’s XRP Mastercard on retail flows
Sustained institutional inflows above $25M daily for momentum

XRP remains in a base-building phase, balancing support near $2.98 against resistance at $3.04, as traders await a potential directional breakout.