Back in July, Ripple’s XRP price ripped higher and touched $3.66, its biggest move in a long time. Since then, the hype has cooled off. Through August, price has been drifting lower, with sellers taking some profit while buyers try to defend key levels.
Now, as we close out the month, XRP is trading just under $2.85. The big question heading into September is whether this is just a healthy reset before another run, or if momentum is slipping away.
What the XRP Chart Is Showing
On the weekly chart, the rally in July stands out like a rocket launch. XRP price broke through its long consolidation, running from around $1.00 all the way to that $3.66 peak. But after that high, the chart flipped into correction mode.
By mid-August, price had already dropped to $2.76 before bouncing. That tells us sellers were quick to lock in profits, but there’s also real buying interest at lower levels.
The $2.80–$3.00 range has now become the line in the sand. If XRP price can stay above this zone, bulls could set up for another push toward $3.20 or even $3.40. If not, a slip under $2.80 would likely drag it closer to $2.60 or $2.40.
Market Indicators
Volume: August saw volume cool down compared to July’s explosive breakout, but last week still came in above $823M. That means interest hasn’t faded completely.
Open Interest: Futures open interest sits around $335M, showing traders are keeping bets open as they wait for a clearer direction.
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Long vs. Short positions: Longs have eased back, while shorts have built up slightly. The market is cautious, no one has full control right now.
Volatility: With swings still above 10%, expect fast moves in either direction to continue.
XRP Price Short-Term Outlook for The Week
The closing days of August put $2.80 in the spotlight. Holding above that level keeps the door open for a bounce back towards $3.20–$3.40, with the $3.66 high a longer-term target if momentum really returns in September.
But in case $2.80 doesn’t hold, XRP price can further decline into the $2.60–$2.40 area before more assertive buyers return.
For now, the most reasonable scenario seems to be sideways movement with a bullish bias, with the market waiting for the next driver.
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