“Breakout Above $ 3 Triggers Five-Fold Volume Spike as Fed Policy Shift and on -chain Activity Boost Institutional Flows.”, – WRITE: www.coindesk.com
(Coindesk Data)
- XRP Surged 8.56% Durying The August 22–23 Session, Testing Resistance Near $ 3.10 After Dovish Comments from The Federal Reserve Chair.
- On -chain Settlement Volumes on the XRP Ledger Increasted by 500%, Indicating Potential Institutional Adoption Despite Ongoing Whale Distribution.
- Traders Are Watching If The $ 3.00 Support Holds and Wather A Breakout Above $ 3.10 Could Lead to Further Gains.
The Move Coincides with Dovish Commentary from Federal Reserve Chair Jerome Powell at Jackson Hole, Who Reinforced Expectations of a September Rate City and Lifted Risk Sentient
On -chain Settlement Volumes on the XRP Ledger Surged 500% Earlier this Week, Adding to Optimism AROUND Institutional Adoption Despite Ongoing while Distribution.
Price Action Summary• XRP Gained 8.56% Across The 23-Hur SESSION FROM August 22 at 11:00 to August 23 AT 10:00, Climbing from $ 2.83 to $ 3.03, Accounting To Coindes Desate.
• The Token Swung Between $ 2.79 and $ 3.10, Creating An 11% Intrady 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 Acccumulation Zone Trigger Upside Impulse on High Volume.
• Resistance: Strong Suppply Pressure Emerged AT $ 3.08– $ 3.10, Rejecting Further Advance.
• Support: New Floor Forming At $ 2.97– $ 3.00 Psychological Level, Repeatedly Defended Intrady.
• Volume: Breakout Candle Logged 667.4 Million Trades, 72% Above Weekly Average.
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What Traders Are Watching• WHETHER $ 3.00 SUPPORT HOLDS DURING PROFIT-TAKING, OR IF A DEVPER RETRACE TESTS $ 2.95.
• Breakout Confirmation Above $ 3.08– $ 3.10 Zone, Which Could Open the Path Town $ 3.25.
• Fed Policy Signals Ahead of the 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 Weight On Interady Momentum.
Shaurya Holds Over $ 1,000 in Btc, Eth, Sol, Avax, Sushi, Crv, Near, YFI, YFI, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, CAKE, Vet, Vet, Vet RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, Banana, Rome, Burger, Spirit, and ORCA.
He Provides Over $ 1,000 to Liquidity Pools on Compound, Curve, Sushiswap, Pancakeswap, Burgerswap, Orca, AnaSwap, Spiritswap, Roki Protocol, Yearn Finance Olympusdao, Rome, Trader Joe, and Sun.
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