XRP Faces Key $3.04 Barrier with MACD Turning and RSI Steady

XRP is consolidating near $2.98 after a $273 million trading spike on Tuesday, keeping the token pinned around the $3.00 psychological mark.

Market Drivers

The token has gained nearly 9% over the past week, with momentum supported by Gemini’s new XRP-rewards Mastercard, launched in partnership with WebBank. The card offers up to 4% cashback in XRP and helped Gemini briefly overtake Coinbase in U.S. iOS app rankings.

Institutional appetite is also building, with XRP-linked products seeing about $25 million in daily inflows. Analysts suggest a decisive breakout from the current compression could set longer-term targets near $27.

Trading Activity

Over the 24 hours ending 27 August 04:00 GMT, XRP moved between $2.95 and $3.05, closing slightly lower at $2.98.

• 20:00 GMT: Trading volume hit 273M, over four times the daily average, as XRP briefly reached $3.05 before sellers stepped in.
• Late session: The token held firm above $2.975 support, with repeated but short-lived rallies toward $2.99.

Technical Picture

• Support: $2.975–$2.98 zone remains key
• Resistance: $3.02–$3.04 continues to cap gains
• Momentum: RSI mid-50s points to neutrality; MACD nearing bullish crossover
• Pattern: Tight consolidation suggests a base; breakout above $3.04 could trigger upside momentum

Outlook

• Bulls target $3.20 on a clear resistance break
• Bears eye $2.96–$2.94 as downside levels
• Market desks are monitoring whether Gemini’s card drives fresh retail demand
• Institutional inflows above $25M daily remain critical to sustaining momentum

XRP’s next move hinges on whether $3.04 resistance gives way or sellers push it back toward the $2.96 zone, with volumes signaling strong participation on both sides.