Ripple’s XRP had a big run earlier this summer, shooting up from around $2.06 to more than $3.60 in just a couple of weeks. Since then, things have cooled down.
The XRP price has been stuck in a sideways range between $2.60 and $3.00, and traders are waiting to see where it will head next. Right now, it feels like the market is just catching its breath.
What you'll learn 👉
What the XRP Chart Is Showing
On the 4H chart, you can see that XRP price peaked at $3.66 in July before starting to trend lower. The highs have been coming down, but the $2.80 area has been holding up as strong support.
Lately, the price has been progressing very quietly with tiny candles and little volatility. That would usually mean that the market is building up power for the next move.
If the XRP price can break the $3.00 resistance, the buyers may drive it back to $3.20 or even higher. On the other hand, if it goes below $2.70, it can easily test $2.50 again.
Market Indicators
Trading volume has dropped a lot compared to July, which tells us there’s less excitement right now.
Open interest in futures has also come down from over 500M to about 300M, showing that many leveraged traders have already closed their positions.
We’re also seeing shorts pick up slightly while longs have cooled off, which gives the market a small bearish bias. Still, the fact that XRP price keeps bouncing around $2.80 means buyers are defending that level for now.
Read Also: 5 Bold Moves That Could Push Shiba Inu (SHIB) Price to $0.001 Sooner Than You Think
XRP Price Short-Term Outlook for The Week
For this week, XRP will probably stay inside that $2.70 to $3.00 range unless a breakout happens.
If bulls manage to take out $3.00, we could see a quick rally toward $3.20–$3.30. But if bears push the XRP price under $2.70, the next stop might be closer to $2.50.
Right now, it’s a waiting game. Bulls need stronger volume to take charge, while bears will be watching for any weakness below support.
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