XRP price is trading around $2.80 right now, holding its ground after a pretty choppy week. The token has been bouncing between sharp ups and downs, and all eyes are on whether today’s session keeps price steady or pushes it into another drop.
The steady pullback from mid-August highs has dragged XRP right down to a key support zone. Traders are watching closely to see if this floor holds or if we’re about to see another leg lower.
What you'll learn 👉
What We Got Right Yesterday
In yesterday’s prediction, we talked about how $2.75 is the level to watch. If XRP price slipped under it, the next pit stop looked like $2.60 or even the $2.45-$2.50 range.
So far, bulls have done their job defending above $2.78. That kept XRP trading in the range we flagged, between $2.78 and $3.10. No breakout yet, and volume is still on the lighter side, which tells us the market hasn’t really picked a direction.
We also mentioned that only a push back above $3.18-$3.25 with strong buying could open the door to $3.35 and maybe $3.55-$3.70. That hasn’t happened yet.
What the XRP Chart Is Showing
If you look at the XRP daily chart, the downtrend from the $3.66 peak stands out. Price has been stepping lower with each bounce, and now it’s pressing hard on the $2.78-$2.80 support zone. That level has been tested before, and it’s one of the last big safety nets nearby.
If buyers can show up here, XRP price could pop back toward $3.00-$3.05, where previous rallies got stuck. A stronger rebound could even stretch toward $3.20.
But if $2.78 gives way, a drop toward $2.45 isn’t out of the question. For now, momentum is still leaning bearish, but the bulls are hanging onto this zone.
Market Indicators
Trading volume is still thin compared to the big summer rally. It’s sitting around $370M, with expected activity closer to $430M. That tells us fewer traders are jumping in right now.
Open interest is holding steady compared to market cap at about 0.0325. That means traders are still in the game, just not betting too heavily.
Long positions keep slipping, while shorts remain stacked higher, which keeps the advantage on the side of the bears.
Read Also: How Much Could XRP Be Worth if Ethereum Reaches $62,000?
XRP Short-Term Outlook for Today, September 5
The big story today is whether $2.78 support holds. If it does, XRP could bounce back to the $3.00 zone before the day closes. If it doesn’t, a slide toward $2.45 looks like the next likely move.
For now, the short-term setup is leaning bearish. XRP price is down a bit more than 1% on the day and sitting right on top of one of its strongest support levels from the past month. Today’s session will decide if that floor holds or if more downside is on the way.
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