XRP’s near-term price trajectory hinges on a critical $2.80 to $2.95 support level, with analysts indicating that sustained defense of this zone could catalyze a 20% rebound by August’s end. Technical assessments suggest this support acts as a vital foundation for bullish reversal potential amid recent market pressures.
Market analyst Cryptoes highlights emerging bullish signals, including a notable bullish divergence on XRP’s four-hour timeframe. The Relative Strength Index (RSI) has formed higher lows—a pattern indicating weakening downward momentum and strengthening buyer interest. Complementing this, a Dragonfly Doji candlestick pattern emerged on the daily chart, signaling robust buyer intervention after periods of selling pressure.
XRP is concurrently developing a falling wedge pattern on the four-hour chart—a technical formation historically associated with upside breakouts. Analysts project this setup could trigger a price surge toward the $3.60 to $3.65 resistance zone upon confirmation. The cryptocurrency’s ability to maintain its foothold within the $2.80–$2.95 support range remains imperative for preserving its upward trajectory throughout August.