In recent days, the price action of $XRP has been characterized by consolidation below the $3 price level. This level, which acted as support for most of August, was broken down on August 28, and $XRP is now trading in the $2.8 price area. Technical analysis indicates that the current sideways action should not be confused with weakness, as $XRP is about to initiate an upward recovery move.
The recent price drop of XRP occurred after the asset tested the $3 price level again between August 26 and 28, which for now has limited its upward momentum. Interestingly, when expanding to a longer time frame on the candlestick chart, it is observed that this movement caused XRP to return to a consolidation zone in which it has been trading since early 2025. Its most recent peak of $3.65 in July was an attempt to break through this consolidation zone, but the subsequent price pullback caused it to return to the zone.
According to a technical analysis by popular XRP analyst, Egrag Crypto, XRP's price action is marking a bounce before the next move. In his post on the social media platform X, he referred to the current structure as XRP's consolidation before the next major move. His analysis, which was plotted on a 2-week candlestick chart, shows how XRP is approaching the lower trend line of a white zone.
This white zone, as seen in the price chart above, encapsulates several attempts by XRP to close above its all-time high of $3.40 from 2018. However, this has acted as an order block, and even though XRP has broken above this high price in recent months, it has still not managed to close above it on the longer time frame. Nevertheless, despite the recent pullback, XRP is still above the lower trend line of the white box. As long as it continues to trade above $2.8, it offers optimistic traders the possibility of another upward move.
The 2-week chart shared by Egrag Crypto also maps bold double-digit projections for when XRP's price closes above the white zone and the consolidation resolves in favor of the bulls. The price targets highlighted in his analysis are $7, $11, $18, and even $27 in the long term. These levels are based on upward trend lines in price targets dating back to 2016. The most urgent task for XRP is to clear the upper boundary of the white consolidation zone and establish a decisive close above the $3.5 level on the 2-week candlestick chart. The exact timing for such a move is currently uncertain, but Egrag Crypto's chart projects the setup breaking around the end of September 29, 2025. At the time of writing, XRP is trading at $2.83, with a 0.5% increase over the last 24 hours.
