A new analysis from EGRAG CRYPTO – a well-known technical analyst on the X platform (formerly Twitter) – has provided insights into 5 key technical factors affecting XRP's price trend in the near future. After a strong surge in July, when XRP surpassed $3 and set a new historical peak, the price is showing signs of slight correction and accumulation in the early days of August.

1. Closing Candles Above $3 – Strengthening Uptrend Signal

Currently, XRP is fluctuating around the important psychological level of $3.00. On the 4-hour timeframe, EGRAG notes that XRP has repeatedly closed candles above the $3 threshold. This is not only an important psychological milestone but also an indicator that the uptrend is being maintained. Sustaining a close above this level could strengthen investor confidence in the continuation of the uptrend.

2. Selling Pressure Not Overcoming Buying Pressure

Observing the chart, most of the wicks are formed from the top, indicating that sellers are still active but have not dominated buying pressure. This suggests that selling pressure is being well absorbed, and buyers still have the upper hand in the short term.

3. Potential Correction to the $2.96–$2.93 Zone

However, EGRAG also warns of a potential short-term correction. Specifically, the price range of $2.96–$2.93 is identified as a short-term support zone. If the price corrects to this level, it could be an opportunity for buyers to "reload" in preparation for a new rally. Maintaining this support zone will indicate that the bulls are still in control.

4. Protecting the $2.80 Level – The Lifeline of the Uptrend

The price level of $2.80 is considered the "lifeline" for the current uptrend structure. If the price closes below this level, the technical structure will be broken, creating risks for a deep decline. Therefore, holding above $2.80 is essential to maintain XRP's growth momentum.

5. Price Target – Aiming for New Highs

To confirm a new breakout, EGRAG sets important target price levels:

  • $3.185: This is the price level that was rejected at the end of July. If XRP breaks through this level with strong volume and buying pressure, the uptrend will be more clearly confirmed.

  • $3.25: The next important milestone, if surpassed, will place XRP in an extremely positive technical position.

  • $3.33 and $3.45: Two important resistance levels; if broken, could open up a scenario for a sharp increase.

  • $3.65: This is the optimal target set by EGRAG if XRP maintains a strong uptrend and breaks through the upper resistance levels.

Conclusion

With the current price action, XRP is in a critical phase. While the uptrend is still present, investors need to pay special attention to important support areas like $2.93 and $2.80 to assess the ability to maintain the uptrend. At the same time, breaking through resistance levels of $3.185, $3.25, and further $3.45 will be clear signals confirming that XRP is heading towards new highs. The upcoming period promises to be very active for those watching XRP.