XRP News Today: XRP price shows renewed strength as buyers reclaim $3.26 after support test

XRP price is showing signs of renewed strength, with buyers reasserting control after a bounce from key support near $3.00. As of today, August 8, the price is hovering around $3.26, just below a critical resistance cluster at $3.30. The technical picture is encouraging, with the price reclaiming the 100-day simple moving average and forming higher highs and higher lows—a classic sign of an emerging uptrend [1].

Yesterday’s price movement confirmed earlier predictions that a break above $3.10 would open the path toward $3.25–$3.50. The price did indeed rally through $3.25, reaching a high of $3.30 before consolidating [2]. Additionally, the support zone between $2.80–$3.00 held firm, validating its role as a key buying level for the asset [3].

From a technical standpoint, the indicators remain bullish. The RSI (14) stands at 59.76, suggesting that momentum is healthy but not yet overbought. The ADX (14) at 24.63 points to a strengthening trend, while the MACD at 0.094 supports the presence of bullish momentum. The CCI (14) at 80.41 and ROC at 3.24 further reinforce the positive price pressure, and the Bull/Bear Power at 0.10 indicates that buyers currently hold the edge [4].

Looking ahead, there are three possible price scenarios. In a bullish case, a break above $3.30 could trigger a move toward $3.50 and potentially $3.60. A neutral scenario sees the price consolidating between $3.00 and $3.30, while a bearish outcome would involve a drop below $3.00, with $2.80 as the next key support level [5].

The broader market environment is also supportive. Institutional adoption in Asia continues to gain traction, with Korean custodian BDACS recently adding XRP to its custody services and Japan’s SBI Holdings pushing forward with an XRP ETF application. These developments signal growing confidence in the asset’s compliance and utility [6].

However, caution is still warranted. A liquidity trap above $3.40 in the past led to significant sell-offs, and the XRP MVRV ratio has formed a death cross, indicating potential downside if bearish momentum persists. That said, long-term fundamentals remain strong, with analysts eyeing a potential 5x rally if XRP can break out of its consolidation range [7].

For now, the focus remains on the $3.30 resistance level. A convincing breakout could signal a stronger upward move, while a failure to hold above $3.00 would invite renewed selling pressure. Investors are advised to closely monitor volume patterns, key resistance levels, and any macro-level developments, particularly related to Ripple’s ongoing legal and regulatory efforts [8].

[1] Ripple Price Prediction Today As XRP Lawsuit Finally Ends (Coinpedia, https://coinpedia.org/news/ripple-price-prediction-today-as-xrp-lawsuit-finally-ends/amp/)

[2] XRP Price Prediction: XRP Caught in $3.00–$3.10 ... (Brave New Coin, https://bravenewcoin.com/insights/xrp-price-prediction-xrp-caught-in-3-00-3-10-liquidation-zone-whats-next-for-ripple-price)

[3] XRP PRICE PREDICTION TOMORROW, WEEK AND ... (30rates, https://30rates.com/ripple-price-prediction-tomorrow-week-month-xrp-forecast)

[4] XRP Price Prediction for Today (August 8) (CoinMarketCap, https://coinmarketcap.com/community/articles/68956950a023ec4608e1db3b/)

[5] XRP Price Surges 3% on SEC Ruling Speculation and ETF ... (AInvest, https://www.ainvest.com/news/xrp-news-today-xrp-price-surges-3-sec-ruling-speculation-etf-hopes-2508/)

[6] XRP Price Prediction: As Sentiment Shifts Bearish, This ... (CoinCentral, https://coincentral.com/xrp-price-prediction-as-sentiment-shifts-bearish-this-analyst-is-forecasting-a-surprise-rally-to-4-50/)

[7] XRP Price Prediction: Analyst Eyes Breakout As Ripple's ... (CoinGape, https://coingape.com/markets/xrp-price-prediction-analyst-eyes-7-as-ripples-banking-license-application-goes-public/)