XRP (XRP) Price Prediction for August 7
Main Idea
The XRP price has retraced below $2.96 after a brief rally, with short-term bearish momentum due to technical resistance and declining futures open interest.
Key Points
1. XRP price retraced below $2.96 after failing to break above $3.09, facing resistance from EMA clusters and a bearish trend channel.
2. Key resistance levels are $3.09 and $3.40, while support levels are $2.91 and $2.78, based on technical indicators like Fibonacci and VWAP.
3. Futures open interest dropped by 4.8% to $7.08B, indicating reduced leveraged participation, while spot netflow remained slightly positive at +$2.49M.
4. The RSI at 52.27 suggests neutral momentum, with price compression between $2.93 and $2.95, hinting at a potential bearish near-term bias.
5. A breakdown below $2.91 could lead to further declines toward $2.78, while a breakout above $3.09 may target $3.40 and higher resistance levels.
Description
After briefly reclaiming the $3.00 handle, the XRP price today has retraced below $2.96, as sellers stepped in near major EMA clusters and the midline of the descending trend channel. Price action remains under pressure following a confirmed Change of Character (CHoCH) on the daily chart, while the trend bias has tilted slightly bearish for the short term. XRP Price Forecast Table: August 7, 2025 Indicator/Zone Level / Signal XRP price today $2.95 Resistance 1 $3.09 (trendline + weak high) Resis...
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