XRP gained 4.86% today, closing at $2.9135 after dipping to $2.7273 earlier in the session. The rebound comes after a week of heavy selling, and it followed our August 3 prediction closely, where we noted that holding $2.80 would likely keep XRP trading in a $2.80–$3.00 range.
You can read that full analysis here.
XRP Chart Analysis
Today’s daily candle shows that XRP is trying to stabilize after the sharp correction from the $3.65 peak in mid-July. The XRP price bounced from $2.72 support, which is just above the short-term critical zone at $2.70–$2.77. Holding this range keeps the bullish structure alive on the daily timeframe.
The 200-day moving average at $2.4554 is still far below current price, meaning the long-term trend remains up. The RSI is hovering near 48, showing that XRP is in neutral territory after shedding most of its overbought momentum from July.
XRP is still holding the key $2.80 support area, which is keeping the chart from turning fully bearish. The 200-day moving average sits far below at $2.45, showing that the longer-term trend is still up. RSI is now around 48, which tells us the market has cooled off from the heavy buying in July and is sitting in a neutral zone.
Volume picked up slightly today as the price bounced, which shows that some buyers are defending this level. Still, XRP has not managed to get back over the important $3.00 mark. Until that happens, big upside moves will be harder to sustain.
Here’s a quick look at the main daily indicators:
| Indicator | Value | Signal |
|---|---|---|
| MACD (12,26) | 0.074 | Slightly bullish |
| Highs/Lows (14) | -0.1379 | Bearish |
| Ultimate Oscillator | 40.56 | Weak momentum |
| ROC | -15.75 | Bearish |
| Bull/Bear Power (13) | -0.4055 | Bears slightly ahead |
These readings show that while XRP is trying to recover, momentum is not fully bullish yet. A break above $3.00 would change sentiment quickly, but losing $2.77 could trigger another wave of selling.
XRP Price Scenarios for August 4
Bullish Scenario:
If XRP can close above $3.00 with strong volume, the next upside targets are $3.20 and $3.30. A breakout here could set the stage for a medium-term recovery.
Neutral Scenario:
If $2.80 continues to hold, XRP may trade sideways between $2.80–$3.00 as the market waits for a new catalyst.
Bearish Scenario:
If $2.77 breaks, expect a decline toward $2.60, with a possible extended move to $2.50–$2.40 if broader market weakness continues.
Read also: Ripple’s Co-Founder Is Selling XRP
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
