XRP Eyes $3.20 as Bull-Flag Pattern Forms, Key Support at $2.89

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By Shaurya Malwa, CD Analytics

Updated Aug 27, 2025, 5:53 a.m. Published Aug 27, 2025, 5:53 a.m.

CME Group’s crypto futures suite surpassed $30 billion in notional open interest, with XRP futures reaching $1 billion in just over three months.
XRP’s price increased by 3.60% from $2.89 to $2.99, with a significant volume spike at $3.08 before retreating.
Traders are monitoring whether XRP can maintain support at $2.99–$3.00 and the potential for a breakout above $3.08.

CME Group recently said its crypto futures suite surpassed $30 billion in notional open interest for the first time, with XRP futures crossing $1 billion in just over three months — the fastest pace for a new contract.
Broader crypto sentiment improved after Fed Chair Jerome Powell’s Jackson Hole remarks, which boosted expectations of policy easing later this year.
XRP continues to trade under the shadow of U.S. regulatory uncertainty, even as corporate treasuries explore cross-border payment pilots with Ripple’s technology.

From August 26 at 03:00 to August 27 at 02:00, XRP gained 3.60%, rising from $2.89 to $2.99 within a $0.20 intraday band.
The sharpest move came at 19:00 GMT on August 26, when XRP pierced $3.08 on extraordinary 167.60 million volume before rejecting at that level.
In the final hour (01:21–02:20 GMT on Aug. 27), XRP oscillated within a $0.13 corridor, consolidating gains while holding steady near the $2.99–$3.00 zone.

Support: $2.89 remains the key base after multiple successful retests; $2.99 now acting as a psychological floor.
Resistance: $3.06–$3.08 is the near-term ceiling, reinforced by the heavy rejection on high volume at $3.08.
Momentum: RSI recovered from oversold 42 to the mid-50s, suggesting strengthening near-term trend.
Volume: 167.60 million tokens changed hands during the $3.08 test — more than double the 30-day average — a clear sign of institutional participation.
Patterns: Double bull-flag and rounding-bottom structures highlight potential upside, with technicians eyeing $5.85 as a longer-term breakout target.
Compression: Diminishing peaks around $3.01–$3.00 in late trading indicate a coiling setup ahead of a directional move.

Whether $2.99–$3.00 can hold as a solid psychological support.
A confirmed break above $3.08 potentially opens a run to $3.20 and beyond.
Downside risks remain if $2.84 is breached, with $2.80 as the next key level.
CME open-interest growth and institutional flows will be watched closely for confirmation of sustained momentum.

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, 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, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.

CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.

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