XRP price is holding around $2.85 as we move into September 4. The token hasn’t made any big moves yet, but it’s sitting right in the middle of its range.
After that sharp rally to $3.66 in late August, XRP has been cooling off, and now traders are watching closely to see if $2.80 can hold or if sellers are ready to push it lower.
What you'll learn 👉
What We Got Right Yesterday
In yesterday’s prediction, we talked about how trading volume has slowed down compared to the summer rally.
That’s still the case today, with volume around $570 million, much lower than what we saw during the big run-up. Fewer traders are chasing moves right now, and that’s showing up in the price action.
We also pointed out that shorts are stacked up over $6.39 billion while long positions keep sliding. That tilt gives sellers the edge, and it hasn’t changed yet.
Still, bulls have managed to defend the $2.80-$2.85 area, which means XRP is moving right where we expected, between $2.85 and $3.00. No breakout yet, and no fresh momentum until volume comes back.
What the XRP Chart Is Showing
The XRP chart still shows a downtrend from that $3.66 top. Price has been carving out lower highs, and it’s pressing against the $2.80 support zone again.
If buyers step up here, XRP could bounce back toward $3.00-$3.05, maybe even stretch to $3.20 if momentum builds.
But if $2.80 cracks, the next big level is down at $2.37, where the last rally started. That’s a long way down, and traders will be watching how the next couple of candles play out.
Market Indicators
Read Also: Experts Explain XRP Price Path to Triple Digits and the “Perfect Storm” That Could Take It There
Open interest hasn’t moved much, which tells us traders are staying in the game but not overcommitting.
Longs keep slipping, shorts are heavier, and that’s why bears still have momentum. The open interest-to-market cap ratio is only 0.0348, so we’re not looking at crazy leverage or anything overheated.
Volume, though, is the missing piece. Without more traders stepping in, it’s tough for XRP to break out in either direction. Right now, the market feels cautious.
Short-Term Outlook for September 4
The line in the sand today is $2.80. If XRP price can hold above it, we could see another push back toward $3.00. If it doesn’t, a drop toward $2.60-$2.37 is on the table.
For now, the short-term picture still leans bearish, but bulls aren’t giving up the fight. Today’s action could set the tone for how the rest of the week plays out.
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