Analyst Predicts When Current XRP Price Pullback Will End
Main Idea
An analyst predicts that the current XRP price pullback will likely end between August 2 and August 4, with $2.78 identified as a critical support level based on Ichimoku Cloud analysis.
Key Points
1. XRP is trading at $2.89, having dipped to an intraday low of $2.80, close to the $2.78 support level highlighted by the analyst.
2. The pullback began in July after a rally from under $2.00, but XRP remains above the Ichimoku Cloud on the chart.
3. Ichimoku time cycles indicate a 42-bar and 33-bar cycle convergence between August 2 and 4, suggesting a high-probability bounce zone.
4. If XRP holds the $2.78–$2.80 support, the next targets are $3.10 and a possible retest of the cycle high at $3.82; failure to hold could see support at $2.55.
5. The analysis is based on technical indicators and is not considered financial advice; readers are urged to conduct their own research.
Description
XRP’s recent price correction may be approaching its end , according to crypto analyst Dr Cat. In a technical post shared on X, Dr Cat forecasted that the ongoing pullback would likely conclude between August 2 and August 4, identifying $2.78 as a critical support level on the 3-day chart. This projection is based on an Ichimoku Cloud analysis, a powerful trend-following system that combines price, time, and momentum indicators. Dr Cat’s chart reveals key confluences that suggest XRP is entering...
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