XRP (XRP) Price Prediction for August 2
Main Idea
XRP price is under pressure with a bearish short-term outlook, trading around $2.95 after a recent peak near $3.66, amid weakening technical indicators and broader market concerns.
Key Points
1. XRP price has corrected from a recent peak of $3.66 to around $2.95, with a Change of Character (CHoCH) pattern suggesting potential breakdown below $3.00.
2. Technical indicators like DMI, Parabolic SAR, and MACD show bearish momentum, with RSI in oversold territory but no bullish divergence forming.
3. XRP faces rejection at key EMAs ($3.09, $3.14) and trendline resistance, with Bollinger Bands expanding downward, signaling continued bearish pressure.
4. A break below $2.91 support could lead to further downside toward $2.66, while reclaiming $3.02 may trigger a short-term bounce to $3.20.
5. Derivative analysis shows $20 million in net outflows, and Ripple CTO David Schwartz's comments have reignited debates about XRP's on-chain activity versus real-world utility.
Description
After a sharp rally through July, XRP price is back under pressure as sellers regain short-term control. XRP price today trades around $2.95, sliding from its recent peak near $3.66. The correction comes amid weakening momentum across multiple indicators and broader questions surrounding XRP Ledger utility in institutional payments. What’s Happening With XRP’s Price? XRP price dynamics (Source: TradingView) On the daily chart, XRP price is unwinding recent gains after forming an equal high near ...
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