Main navigation

XRP Price Analysis for August 3

Price Predictions
Tue, 08/03/2021 - 18:01
article image
Denys Serhiichuk
Has XRP accumulated enough power for another blast?
XRP Price Analysis for August 3
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News

Bears have seized control over the market, with the majority of coins being in the red zone. Cardano (ADA) is the only exception after spiking 1.42 percent.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

XRP/USD

Yesterday, the XRP/USD pair tried to fix above the two-hour EMA55, but the bears pushed the price below the moving average at the end of the day.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Tonight, the decline continued to the level of $0.72. In the morning, the correction slowed down, but the pair might still start trading below the $0.70 support level.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the higher time frame, XRP bounced off the support at $0.70, which means that buyers are not giving up and are ready to save this level.

Related
BTC, ETH, XRP, BNB and ADA Price Analysis for July 31

Respectively, there is a high probability of seeing XRP testing the liquidity zone around $0.74 to gain more power for another move.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

According to the daily chart analysis, XRP may break the support at $0.70 as buyers could not seize the opportunity after the false breakout. If that occurs, the next mark where bulls might come back to the game is $0.67 zone.

XRP is trading at $0.71096 at press time.

article image
About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.