XRP News Today: XRP Consolidates Near $3.27 Amid Key Resistance and Support Watch

Ripple’s XRP remains in a consolidation phase on August 10, with the price hovering around $3.27, down slightly by 1.05% over the past 24 hours. Traders are closely watching whether the coin can break above the critical $3.40–$3.43 resistance zone, which has repeatedly acted as a cap following a sharp mid-July rally to $3.70 and a subsequent pullback. XRP currently holds above the 50-day Simple Moving Average (SMA) at $3.14, which has provided support on multiple occasions, but a decisive breakout remains elusive [1].

According to recent technical analysis, the key support levels for XRP are now at $3.14–$3.15, and then at $2.90–$2.95. A move below $3.14 could see the price retest those lower levels, potentially setting up for a further decline toward $2.80 or even $2.55 in a worst-case scenario [1]. On the other hand, a clean close above $3.43 could trigger a move toward $3.55 and potentially $3.70 if momentum continues [1].

Analysts have offered mixed signals, with some forecasting a possible short-term rebound if XRP can break through key resistance levels. One model predicts that a close above $3.34 could push the price toward $3.49 in the next 24 hours. Another algorithmic forecast estimates the price for August 10 to be $3.1685, with a potential range of $2.9467 to $3.3903 [1]. However, volume has dropped by more than 20%, indicating reduced conviction in the current directional move [1].

The broader context remains influenced by Ripple’s recent legal developments. XRP saw a notable increase following Ripple’s legal victory over the SEC, with prices rising above $3.20 [3]. The removal of the regulatory overhang has sparked renewed bullish sentiment, with some analysts suggesting that XRP could eventually reach $10 in the near future [2]. However, such projections are speculative and rely on broader market conditions, including the emergence of an altcoin supercycle and increased institutional adoption.

In the immediate term, the price is expected to remain in a defined range between $3.00 and $3.40. Technical indicators show mixed signals: the ADX (14) stands at 36.17, indicating a strong trend, while the MACD (12,26) at -0.015 suggests bearish momentum. The RSI (14) is at 50.85, signaling balanced momentum, but the ROC at -0.73 points to a slight downside bias. The Bull/Bear Power indicator, however, shows early signs of buyer control with a value of -0.0025 [1].

Traders are advised to monitor the key levels of $3.14 and $3.40 as potential turning points for the next leg of price action. A sustained move above $3.43 would be required to confirm a bullish breakout, while a breakdown below $3.14 could signal a return to the previous bearish trend. Given the uncertainty, most market participants are expecting continued sideways movement until a clear directional signal emerges.

Source:

[1] CoinMarketCap - https://coinmarketcap.com/community/articles/68984495d2aecc707a2ad76a/

[2] CoinGape - https://coingape.com/markets/xrp-price-prediction-as-ripple-vs-sec-lawsuit-ends-multiple-analysts-see-a-breakout-to-10-imminent/

[3] TheTradable - https://thetradable.com/crypto/xrp-news-prediction-explodes-10-after-ripple-crushes-sec-could-10-be-next-ig--a