XRP begins September with a slight price correction. The token is currently trading around $2.77, remaining above an important support zone.
Analysis of the Current XRP Price Situation
Following a strong surge in mid-August that brought XRP close to $3.60, the token has started to decline. Attention is focused on the $2.70 support level, which must hold to avoid a further drop.
Market Dynamics and Trading Volume
The trading volume for the token has significantly decreased to about $29 million. This indicates fewer traders are participating in this pullback. Open interest remains at $301 million, suggesting active trader involvement without pushing extreme positions.
Short-Term XRP Price Forecast
The key zone for today is $2.70. If XRP stays above this level, a bounce back to $3.00 may be seen by the end of the day. Conversely, a break below this support could lead to a decline to $2.60.
The current situation requires close monitoring. The resilience of the $2.70 level will be decisive in determining XRP's movement direction in the coming days.
