The price of XRP continues to be in a consolidation phase after a significant rise in July, reaching above $3.50. Currently, XRP is trading around $2.96, and analysts are examining the ongoing market trends.
Current Price and Changes
As of now, the XRP price stands at $2.96, slightly above the key support zone. Over the past 24 hours, there has been a decline of 3.57%, and trading volume is also slowing down. Meanwhile, XRP maintains its position within the support zone and the rising trendline around $2.90.
Technical Analysis and Indicators
The daily chart indicates that XRP is in a cooling-off phase following the rise in July. Key technical indicators suggest that most are in a bearish trend. However, the MACD hints at a possible short-term bounce. Key indicators include:
- **MACD (12,26)**: 0.078 - **ADX (14)**: 36.02 - **CCI (14)**: -82.05 - **RSI (14)**: 49.81 - **ROC**: -16.47 - **Bull/Bear Power (13)**: -0.0614
XRP Price Scenarios
Possible scenarios for XRP price might include:
**Bullish Scenario:** A push above $3.10 could lead to price growth up to $3.35–$3.60.
**Neutral Scenario:** Staying above $2.85 but not crossing $3.10 keeps the price fixed between $2.85 and $3.00.
**Bearish Scenario:** Dropping below $2.85 could lead to a decline to $2.65 or $2.60.
The XRP price is awaiting a significant move, as traders monitor levels of $2.85 and $3.10. A breakout in either direction could establish the next price movement.
