XRP slipped through key levels before the high volume sell-off, then stabilized with main support, after Ripple Sales and Solutions, now has regulatory clarity.
Technical Analysis Overview
XRP fell 5% in the 24 hours ending August 9, from $3.34 to $3.20 before returning to $3.30. The move spans the $0.17 range, marking a 5.24% volatility.
Sales pressure peaked between 14:00-15:00, with prices ranging from $3.36 to $3.20, and sold for $209.67 million, the largest single-hour print for the conference.
Buyers defended the $3.20 area, which will trigger a rebound to $3.33 by 19:00. The resistor form is $3.31-$3.33 and the support locks at $3.20.
News background
The SEC and Corrugated Labs have officially ended a five-year legal battle, jointly dismissing the appeal in the XRP case. The Second Circuit Court of Appeals acknowledged the document, and both parties bear their own expenses.
“Under today’s vote, the SEC and Ripple formally filed a dismissal of their appeal in the Second Circuit,” Ripple’s chief legal officer Stuart Alderoty said on X.
Price action summary
•XRP dropped from $3.34 to $3.20 between 14:00-15:00 on August 8
• Buyers defend support of $3.20 and will recover to $3.33 by 19:00
•Resistance is $3.31 to $3.33
Technical indicator analysis
•$3.20 confirmed as key support, and the number of validated to $267 million
• Resistors established at $3.31-$3.33 during the recovery phase
•The above $3.28 bull flag structure indicates if $3.33 rest
•The number rose to 1.86 million at 01:52, indicating a targeted cumulative attempt
• 5.24% intraday volatility highlights traded in range boundaries defined between $3.20 and $3.33
What traders are looking at
•Does $3.20 hold on the next retest of the continuing organization positioning
• Breakthrough confirms that the above exceeds $3.33, ending the profit phase with a signal
•Subsequent purchases related to post-resolution adjustment clarity
• ETF-related liquidity from Japanese SBI applications and potential spillovers to the US market
