#CreatorPad
$XRP As of today, August 1, 2025, the cryptocurrency market is experiencing a downturn, with XRP's price reflecting this broader trend. Here is a summary of today's analysis for XRP:
Price and Market Data
* Current Price: XRP is trading around $3.02 to $2.95, down from yesterday's price.
* 24-hour change: The price has seen a decrease of approximately 1.63% to over 6% in the last 24 hours.
* Market Cap: The market capitalization is around $174.84 billion to $179.2 billion.
* Circulating Supply: The circulating supply is approximately 59.3 billion XRP.
* 24-hour Range: XRP's price has fluctuated between a low of about $2.95 and a high of $3.17 in the past 24 hours.
Technical Analysis and Outlook
* Bullish Momentum: Despite the recent price dip, many analysts remain bullish on XRP, especially in the long term. The price is currently hovering above a key support zone around $3.00, which is a critical level to watch.
* Moving Averages: The 100-day and 200-day moving averages are sloping upward, indicating a bullish trend. A recent "bullish crossover" around the $2.50 level provided a foundation for the recent rally.
* Resistance and Support: The key resistance level to watch is at $3.30-$3.60. A decisive break above this could trigger a new rally. The main support level is around $3.00, and if it fails, the price could correct toward the $2.50 region.
* Elliott Wave Theory: Some analysts, using Elliott Wave analysis, are predicting significant price surges, with targets ranging from $4-$6 in the short term to $11-$13 in the mid-term, and potentially as high as $27-$30 in a full cycle.
Key Drivers and News
* Macroeconomic Factors: The current price dip is largely attributed to a broader crypto-wide selloff driven by macroeconomic pressures, such as new tariffs and delayed interest rate cuts.
* Regulatory Clarity: The ongoing resolution of legal battles with the SEC and the potential approval of spot XRP ETFs are significant catalysts for investor excitement. Decisions on 11 proposals for XRP ETFs are expected by late October.
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