What to Know
XRP fell 10.14% in the 24-hour session from July 23 at 12:00 to July 24 at 11:00, declining from $3.45 to $3.10. The selloff accelerated between 13:00–21:00 on July 23, breaching the $3.20 support and forming fresh resistance at $3.23–$3.25. By early July 24, the token printed a session low of $2.96 before staging a strong rebound.
Trading volumes exceeded 175 million during the session—well above the daily average—pointing to institutional accumulation as prices dipped into oversold territory. A series of higher lows, coupled with a close above $3.10, indicates early signs of a potential bullish reversal.
News Background
• XRP dropped 10% from $3.45 to $3.10 during the 24-hour session ending July 24 at 11:00 GMT
• Price bottomed at $2.96 before rebounding into an ascending channel with higher lows
• Final hour saw a recovery from $3.10 to $3.11 with 5.6 million in volume, the highest of the session
• Analysts point to recovery behavior as a sign of institutional buying at oversold levels
Price Action Summary
XRP’s recovery began after 06:00 GMT on July 24. A bullish breakout between 10:46–10:48 pushed prices from $3.06 to $3.09 on above-average volume, followed by a continuation rally to $3.11 in the final minutes of the session. The structure of this rebound, particularly the consistent formation of higher lows from $2.96 to $3.09, suggests a shift in momentum after a protracted drawdown.
The $3.06–$3.07 zone was tested multiple times during the 10:31–10:37 window, with 4.6 million in transaction volume confirming demand at these levels. A strong final surge into the close confirmed $3.10 as reclaimed support.
Technical Analysis
• 24-hour high/low range spanned $0.49 between $3.45 and $2.96
• Recovery led by ascending lows: $2.96 → $3.06 → $3.09 → $3.11
• Resistance now defined at $3.23–$3.25; breakout above $3.15 would confirm reversal
• Volume spike of 5.6 million at 11:08–11:10 marks strongest buying of the session
• $3.10 reestablished as support following final 60-minute rebound
What Traders Are Watching
• Whether XRP can reclaim and sustain levels above $3.15 in the coming sessions
• Momentum confirmation via break of $3.23–$3.25 resistance corridor
• Further institutional accumulation signs at the $3.00–$3.10 range
• Reaction to broader market sentiment and potential regulatory headlines in the U.S.
