XRP News Today: XRP Nears Key $2.80 Support as Reversal Looms on August 2–4

XRP’s current price pullback appears to be nearing its conclusion, according to Dr. Cat, a crypto analyst whose technical analysis on X highlights a likely reversal window between August 2 and August 4. The analyst identified $2.78 as a key support level on the three-day timeframe, suggesting that a bounce from this area would signal the end of the short-term downtrend [1]. As of report time, XRP is trading at $2.89, having briefly touched $2.80, which aligns closely with the forecasted support level. The timing of the dip and the proximity to the projected reversal zone add credibility to the analysis [1].

Dr. Cat’s analysis draws on the Ichimoku Cloud system, a tool that integrates price, time, and momentum data to identify potential trend reversals. The chart shows converging 42-bar and 33-bar time cycles, both peaking around August 2–4, reinforcing the likelihood of a near-term bottom [1]. On the daily chart, XRP is currently testing the upper edge of the Kumo cloud, a dynamic support level in uptrending conditions. A sustained close above this level could confirm a reversal, setting the stage for a move back toward key resistance levels like $3.10 and $3.82 [1].

The broader trend for XRP remains bullish as long as the price holds above $2.80. A daily close above $3.00 could reinvigorate momentum, with resistance levels at $3.33 and $3.43 in view. If XRP successfully breaks through $3 with volume support, analysts suggest the price could target $3.66, revalidating earlier bullish expectations [3]. However, failure to hold the $2.80–$2.80 support could open the door to a deeper correction, potentially taking XRP down to $2.55 [1].

Short-term forecasts vary among analysts. Coinlore predicts a potential recovery to $2.79 by Monday, with XRP expected to trade between $2.73 and $2.74 in the immediate term [8]. On the bearish side, a close below $3.12 could trigger a further drop to $2.60 or even $2.20, according to micro price analysis [4]. Meanwhile, a favorable outcome in the ongoing Ripple vs. SEC legal case is seen as a key catalyst for long-term bullish sentiment. A recent ruling favoring Ripple—specifically, that XRP sold to retail buyers does not constitute a security—has already bolstered market confidence [3]. Analysts anticipate that a final favorable resolution could lead to increased institutional adoption and the possibility of XRP ETFs, both of which would serve as significant bullish catalysts [3].

Looking ahead, long-term forecasts remain optimistic, with 2025 price prediction models projecting XRP between $5 and $9, contingent on regulatory clarity and broader market expansion. More bullish 2030 scenarios estimate values upwards of $15–$20, assuming Ripple achieves global adoption and continues to expand its partnerships [3].

The immediate focus for XRP traders is whether the price can maintain its position above $2.80 and break through the $3 resistance. A successful breakout could mark the beginning of a new bullish cycle, particularly as Ripple advances its ecosystem and explores new strategic partnerships. However, the market remains volatile, and traders are advised to monitor price action closely as the next few days could be pivotal in determining the short-term trajectory of XRP [3].