This article reviews the current price of XRP and forecasts its behavior in the near term based on market indicators.
XRP Price Movement
In July, XRP reached $3.66, but since then, a decline has been observed. As we approach the end of August, the price is trading just under $2.85, with the key question being whether this is merely a correction or if the trend is weakening.
Market Indicators
Trading volume in August has cooled compared to July's breakout, yet it still exceeded $823M. Open interest in futures sits around $335M, indicating that traders are holding their positions.
Short-Term Forecast
The key level for XRP remains the $2.80–$3.00 range. If the price holds above $2.80, it could springboard towards $3.20 or even $3.40. However, if this level fails, a further decline to the $2.60 or $2.40 area is likely.
Overall, the short-term forecast suggests sideways movement with a bullish bias as traders await fresh market signals.
