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XRP is up today and back around $2.90, but the recovery does not look like a comeback — more of a "dead cat bounce." August started strong but then slipped, and now the coin is trading below a key level that continues to act as a ceiling. Every push toward $3.00 gets tested. The follow‑through dies before it even looks serious.
The structure across time frames has not changed. The previous day’s high has not been surpassed — the kind of alignment that indicates strength is cosmetic.
Compression from above is doing the heavy lifting for sellers. The XRP price rises, meets the ceiling and falls back down. This makes today less about chasing green and more about whether the market can finally clear $3 without immediately falling back down.
Stablecoin shares have increased week over week, indicating a preference for cash over swing risk.
Powell is main character, again
This shift coincides with the focus on Jackson Hole. If policy guidance is hawkish and the message is "inflation first," then the dollar will be more attractive and speculative corners will be affected. Simply put, the move into cash-like positions is happening now.
The playbook for levels is therefore straightforward. Bulls need a daily close back above $3, followed by a clean push through $3.10, to show that this is more than just relief. Fail there, and you are back to picking supports.
The first speed bump is at $2.85 per XRP, and the bigger line sits near $2.70 — the early-summer base that held the last slide. Until the market flips these levels with conviction, it makes more sense to take short entries on intraday pullbacks than to build fresh longs into resistance.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team