XRP shows stability at $3.09, holding crucial support at $3.00 after failing to break the $3.30 mark. This article provides an overview of the current market situation and forecasts for the near future.
Current Market Situation of XRP
Currently, XRP trades at $3.09, which is 0.25% lower than yesterday's levels. Over the past hours, price consolidation has been observed between $3.00 and $3.30, with bulls defending the support at $3.00.
Chart Analysis and Indicators
According to the 4-hour chart, XRP is forming a lower high structure, indicating fading momentum after a recent rise to $3.65. The main support level remains at $2.72, where the token hit a low on August 1. Other metrics, such as open interest, remain stable at about 327 million, suggesting traders are in a wait-and-see position.
XRP Price Forecasts for August 17
Short-term scenarios are as follows:
**Bullish:** If XRP reclaims the $3.30 level, there are chances for the price to accelerate towards $3.50, possibly $3.66.
**Neutral:** Continued consolidation between $3.00 and $3.30 is expected, waiting for a breakout trigger.
**Bearish:** A drop below $3.00 may lead to a decline to the $2.85–$2.80 range, and further selling pressure may see support at $2.50.
Currently, the battle between bulls and bears is focused on holding $3.00 or breaking $3.30. It is expected that until this standoff is resolved, the market will remain volatile.
