The current XRP price is at $2.96, and the market shows reduced activity. Trades are running within a range between support and resistance.
Current XRP Market Situation
XRP price is trading at $2.96. The trading volume is significantly lower compared to earlier this month, indicating traders are waiting for a clear signal for their next actions. Currently, buyers are holding positions around $2.80 while sellers are actively defending the $3.20 zone, creating a sideways range without a clear direction.
Price Projections for XRP
There are several projections for XRP's price on August 29. In the bullish scenario, if the price breaks above $3.20, it may quickly aim for $3.50-$3.60, and possibly retest $3.66. The neutral scenario suggests continued sideways movement between $2.80 and $3.20. In the bearish scenario, if XRP drops below $2.80, it could lead to a drop towards $2.60-$2.50 and even to $2.20.
Conclusion
The XRP price remains in a stable sideways range between $2.80 and $3.20, but this situation cannot last indefinitely. A breakout is expected to cause a sharp move, which if bulls win, could lead to price growth, while if bears take control, it could lead to a decline.
The analysis of the current situation in the XRP market indicates an expectation of significant movement following a period of accumulation. The market is ready for potential changes based on the actions of buyers and sellers.
