In the final days of August, XRP displays active movements near key levels. Analysts are closely observing its performance, particularly regarding the $3 mark.
Current XRP Dynamics
XRP is trading within a range where investors are awaiting the month's closing results. Analyst EGRAG CRYPTO noted that a close above $3.03 would indicate token strength and pave the way for further bullish movement. Currently, XRP is priced at $2.9956, representing a 0.67% decline in the last 24 hours.
Resistance and Risk of Retracement
Analyst Ali Martinez highlighted that XRP failed to break the $3.10 resistance level. This could lead to a retracement to $2.83. Charts show attempts to maintain movement above this level, indicating its significance for buyers.
Focus on Monthly Close
Attention is now focused on the August monthly close. Analysts suggest that a close above $3.03 would reinforce bullish momentum and strengthen market confidence. Otherwise, failing to reach this target may prolong the consolidation phase observed in XRP's recent trend.
Analysts emphasize the critical role of XRP's price in the last days of August. Closing the month above $3.03 could be a determining factor for the bullish trend, while the $3.10 level remains a significant resistance.
