XRP made notable technical strides this past weekend, trading in a tight range between $3.16 and $3.23 while posting higher lows and significant volume surges. Market participants are now watching closely to see if XRP can break above $3.23 and sustain momentum toward the next resistance zone.
Building Momentum Under Resistance
XRP found support at $3.16 before gradually climbing toward its July 28 close of $3.22. This price action constitutes a pattern of higher lows—an early technical signal indicating that buyers may be stepping in ahead of breakout opportunities. Daily trading volume climbed to nearly 82 million XRP, well above the 24‑hour average of 38 million, pointing to increased institutional activity.
Why $3.23 Matters
The $3.23 level has long acted as a resistance anchor. A breach above it could open the door to a rally toward $3.30 and beyond, supported by technical indicators and renewed confidence. Conversely, if the price falls below $3.20, it risks testing support near $3.16 again, which may indicate that the recent volume spike was temporary.
Institutional Interest on the Rise
The volume uptick is particularly telling. One blockchain analyst referred to the session as “strategic accumulation” rather than retail-led speculation. On-chain wallet tracking further supports the idea of increased activity from larger stakeholders turning positions over or initiating fresh entry points.
Technical Setup and Trading View
XRP’s price is forming an ascending base with rising trend lines—an encouraging setup for breakout traders. Pivotal indicators such as RSI and MACD both suggest a shift toward bullish momentum without being overbought yet. Technical analysts emphasize the need to watch if XRP can hold above $3.23 and follow through with sustained volume.
Practical Takeaway for Traders and Investors
For short-term traders, setting tight entry or exit points around $3.20 with stops below $3.16 could limit downside risk. Those watching for longer-term builds may view breakouts above $3.23 as a signal for incremental buying that targets $3.33 or $3.40 in the coming sessions. However, patience is key, as many altcoin plays remain sensitive to Bitcoin’s overall market movements.
Final Word
XRP’s consolidation between $3.16 and $3.23 has evolved into a potentially bullish structure supported by rising volume and technical discipline. Whether it breaks resistance or revisits support depends on forthcoming catalysts and broader sentiment. As digital asset markets mature, these disciplined price patterns may begin to represent stronger conviction rather than random swings.
