XRP’s recent price action has sent ripples through the cryptocurrency market, with the digital asset flirting with the pivotal $3 threshold. In a volatile session that began on August 20 and extended into the following day, XRP oscillated between $2.84 and $2.99, capturing the attention of traders and analysts alike.
A Surge in Activity
XRP’s resurgence comes amid a broader stabilization in the cryptocurrency landscape, as altcoins experience modest inflows following last week’s downturn. On-chain data reveal a significant uptick in activity, with institutional-sized flows standing out. During this recovery phase, XRP turnover reached nearly 155 million, dwarfing its usual daily average of 63 million. This surge underscores the heightened interest in XRP as it approaches a critical resistance level, even as whispers of new highs circulate among market participants. For a comparative analysis of XRP’s performance against other altcoins, see our recent article on XRP vs. ADA vs. ETH.
Testing Key Levels
The action kicked off around 19:00 UTC on August 20, when XRP leaped from $2.84 to $2.99, accompanied by a robust trading volume of 80.6 million units. However, the momentum didn’t sustain a clean break above the $3 barrier. Instead, XRP settled into a pattern of consolidation, bouncing repeatedly between the $2.89 and $2.93 range—establishing this zone as a short-term support level. In the final hour of this frenzied trading period, a sharp whipsaw saw the price swing 8.6% from $2.916 to $2.901, before finding some stability.
The Battle for $3
The $3 mark remains a psychological ceiling for XRP, with multiple rejections highlighting its significance as a resistance point. Traders are closely monitoring whether the $2.93 support will hold or if a slide back to $2.82 is on the cards. A successful break above $3 could signal a continuation of the upward trend, potentially paving the way for XRP to revisit its all-time high of $3.84, set back in January 2018.
A Market in Flux
XRP’s recent movements are not occurring in isolation. The broader crypto market has seen a stabilization phase, with many altcoins witnessing slight recoveries. This environment has sparked discussions about the potential for a longer-term bullish trend, although uncertainty lingers. The sustainability of trading volumes remains a focal point; should flows wane, the bullish narrative may weaken, leaving XRP vulnerable to downward pressure. As explored in our recent coverage, Solana’s SOL, XRP Dive 5% Amid Profit-Taking, market dynamics can shift rapidly, impacting trader sentiment.
As traders navigate these turbulent waters, the consensus is clear: the coming days will be crucial for XRP. With support and resistance levels firmly in place, market participants will be watching intently to see if the token can finally breach the elusive $3 threshold. Whether this rally marks the beginning of a new chapter for XRP or merely a blip on the radar remains to be seen. The market waits, watches, and wonders.
Source
This article is based on: XRP Whipsaws on $2.84–$2.99 Range as Bulls Eye Breakout Above $3
Further Reading
Deepen your understanding with these related articles:
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- 3 Altcoins To Watch In The Third Week Of August 2025
- New Solana Launchpad, Token Mill, Bets Traders (Mostly) Care Only About Price Pumps
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
