XRP traded mostly sideways today, holding above the crucial $3.00 support after failing to push higher past $3.30 earlier in the week. The token is now moving around $3.09, slightly down on the day but still keeping last week’s rally intact.
📅 What We Got Right Yesterday
In yesterday’s outlook, we highlighted the importance of the $3.00–$3.30 range. That prediction played out as XRP spent the day consolidating between these levels, with bulls protecting the $3.00 floor but no breakout above $3.30.
📊 XRP Daily Overview (August 17)
- Current Price: $3.09
- 24h Change: -0.25%
- 4H RSI: 46 (neutral, slight bearish bias)
- Volume: 22.5M, with predicted 44M turnover today
🔍 What the XRP Chart Is Showing
On the 4H chart, XRP has formed a lower high structure, showing fading momentum after last week’s run to $3.65. A dip to $2.72 on August 1st still stands as the key swing low, and since then, XRP has rebounded strongly but without follow-through above $3.30.
Now, let’s break down the extra market metrics:
- Open Interest (OI):
OI is sitting at ~327M, flat compared to yesterday. This tells us traders aren’t opening many new positions right now. The market is in “wait and see” mode, which often happens before a bigger move. - Net Longs:
Net long positions have dropped slightly to -919M, showing that buyers are still cautious. This decline indicates bulls aren’t pressing their advantage yet, even though $3.00 is holding. - Net Shorts:
Net short positions are steady around 856M, which means bears aren’t piling in aggressively either. Shorts haven’t increased despite the rejection at $3.30, meaning sellers are hesitant to push harder until $3.00 breaks.
In short: both bulls and bears are pulling back. Traders are defending $3.00, but no one is committing heavily to a breakout or breakdown. This balance often leads to a sharp move once one side blinks.
The good news for bulls is that $3.00 has held firm multiple times now – each bounce from that level shows strong buying interest. Breaking back above $3.30 would flip the structure bullish again.
📈 XRP Price Scenarios for August 17
Bullish:
If the XRP price reclaims $3.30, momentum could accelerate quickly toward $3.50, with further upside to $3.66. Clearing that could reignite talk of a push to $4.00.
Neutral:
More consolidation between $3.00 and $3.30, with traders waiting for a breakout trigger – either news or a volume spike.
Bearish:
A breakdown under $3.00 risks a move to $2.85–$2.80, and if selling accelerates, $2.50 remains the next major support zone.
👉 Right now, XRP’s battle is clear: hold $3.00 or break $3.30. Until one side wins, expect more choppy action in between.
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