XRP is trading at around $3.04 USD, showing a modest intraday gain of about 1% .
Market participants are optimistic, buoyed by speculation of a Federal Reserve rate cut in September, which typically supports risk assets like XRP . On Tuesday, XRP rose approximately 0.5% to $3.03 USD .
đ Technical & Sentiment Update
XRP recently broke past the $2.60 resistance, approaching price discovery territoryâtrading levels near $3.30â$3.35 that have not been seen since its 2017 peak .
Trading volume surged nearly 34%, and whale wallets have added more than 2.2 billion XRP in July, indicating growing institutional accumulation .
Technical analysts highlight that if XRP sustains support between $2.80 and $3.20, it could rally further towards $4.40 or higher .
đŚ Regulatory & Business Drivers
Ripple has partnered with BNY Mellon as custodian for its RLUSD stablecoin reserves, a move that triggered a ~12% XRP price jump on anticipation of broader XRPL usage .
Ripple CTO David Schwartz emphasized that XRP's current price doesn't fully reflect its "true value" or utility potential, suggesting the token may be undervalued based on fundamentals .
Meanwhile, the SEC case resolution and potential XRP ETFs continue to weigh on pricing dynamicsâclearer regulatory paths would likely boost investor confidence .
đ Price Outlook & Analyst Forecasts
Some analysts expect RSI momentum, whale accumulation, and breakout patterns could lift XRP toward $4â$5 in the near term, with bold projections envisioning a possible rise to $7â$15 by early September .
If XRP fails to hold above key support levels, bearish scenarios point to a pullback toward $1.60â$2.00 .
𧞠Summary Table
Factor Key Note
Current Price ~$3.04 USD
Momentum Support Whale accumulation, 34% volume spike
Resistance / Buy Targets $3.35 for breakout; resistance zone at $4.40
Support Levels $2.80â$3.20 and lower support at ~$2.00
Driver Events RippleâBNY Mellon stablecoin custody, ETF & SEC clarity
Sentiment Bullish, yet cautiousâprofit-taking risk exists
đ§ Advice for Traders & Holders
1. Monitor $3 support zone: Holding above $3 may fuel extended gains.
2. Watch whale wallets and volume trends: Institutional accumulation often precedes larger moves.
3. Keep an eye on Ripple's regulatory status and ETF developments.
4. Manage risk: Protect against sudden pullbacks if momentum fades or macro conditions shift.
â Final Takeaway
XRP has broken into a new momentum phase, trading above long-term resistance and approaching historically significant price levels. Bullish sentiment is reinforced by institutional accumulation, technical patterns suggesting breakout potential, and improved utility via the RippleâBNY Mellon partnership. Continued gains to $4â$5 are plausible if key support zones hold and market sentiment remains firm. However, volatility remains realâespecially as regulatory and macro conditions evolve.
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