XRP (XRP) Price Prediction for August 2

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.