Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
XRP Surges 9% Before Pullback Caps Rally Near $3

XRP Surges 9% Before Pullback Caps Rally Near $3

CryptoNewsNetCryptoNewsNet2025/08/23 19:20
By:coindesk.com

News Background

XRP advanced sharply during the August 22–23 session, testing multi-month resistance near $3.10 after weeks of sideways trading.
The move coincided with dovish commentary from Federal Reserve Chair Jerome Powell at Jackson Hole, which reinforced expectations of a September rate cut and lifted risk sentiment across digital assets.
On-chain settlement volumes on the XRP Ledger surged 500% earlier this week, adding to optimism around institutional adoption despite ongoing whale distribution.

Price Action Summary

• XRP gained 8.56% across the 23-hour session from August 22 at 11:00 to August 23 at 10:00, climbing from $2.83 to $3.03.
• The token swung between $2.79 and $3.10, creating an 11% intraday range.
• The breakout occurred at 14:00 UTC on August 22, with XRP surging from $2.84 to $3.03 on 667.4 million volume—five times session averages.
• Late-session volatility capped the move, with XRP retreating 0.47% in the final hour to settle near $3.01.
• Support has consolidated around $2.97–$3.00 while resistance remains firm at $3.08–$3.10.

Technical Analysis

• Breakout levels: $2.84–$2.97 accumulation zone triggered upside impulse on high volume.
• Resistance: Strong supply pressure emerged at $3.08–$3.10, rejecting further advance.
• Support: New floor forming at $2.97–$3.00 psychological level, repeatedly defended intraday.
• Volume: Breakout candle logged 667.4 million trades, 72% above weekly average.
• Structure: Pattern resembles continuation setup if $3.00 holds, though fading volume late in the session suggests consolidation before next leg.

What Traders Are Watching

• Whether $3.00 support holds during profit-taking, or if a deeper retrace tests $2.95.
• Breakout confirmation above $3.08–$3.10 zone, which could open path toward $3.25.
• Fed policy signals ahead of September meeting, and impact on risk asset flows.
• On-chain activity, which has surged to 844 million tokens settled in a single day, signaling enterprise adoption potential.
• Whale flows, as recent exchange deposits continue to weigh on intraday momentum.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

PIXEL -856.56% in 24 Hours Amid Technical Deterioration

- PIXEL plummeted 578.56% in 24 hours to $0.0328, its steepest short-term drop on record. - Technical indicators show oversold RSI (18), negative MACD divergence, and price below key moving averages, signaling prolonged bearish momentum. - Analysts warn of continued decline without protocol upgrades or demand drivers, as weak fundamentals and absent market catalysts leave the token vulnerable to selling pressure.

ainvest2025/08/29 08:04
PIXEL -856.56% in 24 Hours Amid Technical Deterioration

Bitcoin News Today: A Web Company Bets Big on Bitcoin’s Future Value

- The Smarter Web Company, a UK-listed tech firm, acquired 45 BTC at £82,919 each, boosting holdings to 2,440 BTC (£201M). - The purchase aligns with its 10-year Bitcoin accumulation plan, yielding 56,105% YTD and 28% in 30 days. - The company integrates Bitcoin into its financial strategy, accepts BTC payments, and holds £600K in cash for future buys. - Despite FCA non-registration and volatility warnings, the board reaffirms Bitcoin’s role as a high-risk, high-reward value store.

ainvest2025/08/29 08:03
Bitcoin News Today: A Web Company Bets Big on Bitcoin’s Future Value

Solana News Today: Solana Validators Gamble on Speed vs. Stability in High-Stakes Alpenglow Vote

- Solana validators propose Alpenglow to replace PoH/TowerBFT with Votor and Rotor components. - Votor aims to reduce transaction finality to 150ms, while "20+20" model ensures 40% fault tolerance for DeFi/gaming. - Governance requires 2/3 supermajority; 11.3% of validators currently support the proposal with minimal opposition. - Critics warn 1.6 SOL flat fee may hinder small validators, though proponents call it cost-effective. - Upgrade activation depends on client readiness, balancing technical progres

ainvest2025/08/29 08:03
Solana News Today: Solana Validators Gamble on Speed vs. Stability in High-Stakes Alpenglow Vote

Ethereum News Today: Ethereum Validators Flee as Dollar-Backed Stablecoins Redefine Global Finance

- Ethereum’s validator exit queue hit 1 million ETH ($4.96B) in August 2025, with 18-day+ withdrawal delays, signaling potential sell pressure amid a 72% ETH price surge. - Experts downplay risks, citing strong institutional demand for Ethereum assets, while futures open interest nears $33B and ETF inflows favor Ethereum over Bitcoin. - Bitcoin’s market dominance fell to 57% as altcoins like Ethereum gain traction, with stablecoins (Tether/Circle) poised to reshape U.S. Treasury markets under new regulatio

ainvest2025/08/29 08:03
Ethereum News Today: Ethereum Validators Flee as Dollar-Backed Stablecoins Redefine Global Finance