Ripple (XRP) remains steady around the $3 level while facing seller pressure. The article presents predictions and key support and resistance levels.
Challenges and Support at $3
Despite increasing seller pressure in early August, XRP managed to recover and hold above the key support level at $3. If buyers can maintain the price here, there is a good chance to regain control and push this cryptocurrency higher this month.
Flat Market Dynamics
In the past two weeks, XRP has hovered just above $3 despite several attempts from bears to push it lower. This has resulted in flat dynamics as buyers and sellers battle for dominance. So far, there is no clear winner, and the price is moving sideways.
Declining Trading Volumes
With no clear trend present, trading volumes continue to fall, making any breakout unlikely. This may keep XRP close to the $3 level until buyers or sellers decide to break the stalemate. Until volume picks up again, do not expect major moves.
The current situation for XRP remains challenging. The support level at $3 plays a crucial role, while declining volumes may limit price movements in the coming days.
