Aayush Jindal
Key Highlights
- XRP price found support near $2.70 and recovered some losses.
- It faces key hurdles near $2.920 and $2.9650 on the 4-hour chart.
- Bitcoin started a consolidating phase above $111,500.
- The US GDP could grow 3.3% in Q2 2025.
XRP Price Technical Analysis
XRP price saw a sharp decline from the $3.120 pivot zone. It tumbled below $3.00 and $2.80 before the bulls took a stand.
Looking at the 4-hour chart, the price settled below the $3.00 handle, the 100 simple moving average (red, 4 hours), and the 200 simple moving average (green, 4 hours). It traded as low as $2.687 on TitanFX and recently started an upside correction.
There was a move above $2.80 and 2$.850. The bulls pushed XRP above the 38.2% Fib retracement level of the downward move from the $3.1384 swing high to the $2.6870 low.
Besides, there is a short-term rising channel forming with support at $2.840 on the same chart. On the upside, the price might face resistance near $2.92 or the 50% Fib retracement level of the downward move from the $3.1384 swing high to the $2.6870 low.
The next major resistance is $2.9660. A successful close above the $2.960 level might spark a decent increase. In the stated case, the price may perhaps rise toward the $3.120 level.
The next stop for the bulls may perhaps be near the $3.20 level. If there is a fresh decline, the price might find bids near the $2.840 level. The first major support is near the $2.80 level. Any more losses might reverse the recent recovery and push the price toward $2.650.
Economic Releases
- US Gross Domestic Product for Q2 2025 – Forecast 3.3% versus previous 3.3%.
- US Durable Goods Orders for August 2025 – Forecast -0.5% versus -2.8% previous.
- US Initial Jobless Claims - Forecast 235K, versus 231K previous.
