XRP News Today: XRP Slumps to $2.75 Amid Heavy Institutional Selling, Eyes Bullish Breakout Potential

XRP experienced a sharp decline from $3 to $2.75 in the 24-hour session ending August 3, driven by heightened institutional selling pressure, with trading volumes during the heaviest window more than doubling the daily average. The price bottomed at $2.75, establishing a short-term support level on heavy volume, though recovery attempts stalled below key resistance at $2.84, closing the session at $2.82. This consolidation reflects elevated macroeconomic and liquidity risks, exacerbated by global trade tensions and institutional rebalancing toward more liquid assets [1].

Technical indicators suggest the $2.75–$2.76 zone has become a critical support level, with volume climaxes observed during the most aggressive hourly decline—typically a signal of capitulation or local bottoming. The volume-weighted price activity around sub-$2.80 levels indicates potential accumulation, but confirmation remains pending. Additionally, the final hour of trading saw a significant drop in volume to ~650,000/min, compared to ~3.7 million/min at peak, signaling buyer fatigue or neutral flows post-dump [1].

Analyst forecasts highlight the possibility of a bullish breakout if XRP remains above $2.75–$2.76 and builds a stable base. CryptoBull, a market analyst, notes the price is forming a falling wedge pattern since mid-July, suggesting a potential breakout with a target of $4 within the next two days. This projection is based on a 4-hour XRP/USD chart from Bitstamp, indicating narrowing ranges and decreasing volume typical during consolidation phases. However, the 200-day moving average remains below the wedge, implying the current price is above long-term support [1].

Further momentum is evident as XRP recently outperformed Ethereum in Coinbase’s trading revenue for H1 2025, drawing attention to whether it can push above $3 and trigger a larger rally. The $3.00 level remains a psychological and technical hurdle, with support forming around $2.80. A small wick below this level on July 24 showed a brief rejection but a quick rebound within the pattern [1].

Community reactions to the bullish forecast are mixed, with some traders like Adam Johnson showing cautious optimism, while others, such as Mary Star, expect a pullback to the mid-2.70s before a sustained move upward. These differing opinions highlight the uncertainty surrounding both the timing and magnitude of a potential breakout. Despite the bullish technical signals, the two-day timeframe proposed by analysts is considered a short-term hypothesis, and actual market behavior may vary [1].

Broader market dynamics also influence XRP’s trajectory. One analysis suggests a surge in Bitcoin could lead to a 200%-300% increase in XRP, linking the performance of the two assets. However, this remains speculative and should not be interpreted as a guaranteed outcome [3].

In summary, XRP is currently in a crucial phase of consolidation near the $2.75 level, with traders and analysts closely monitoring key technical indicators for signs of a potential breakout. While bullish patterns and projections exist, actual price action will ultimately determine the direction. Investors are encouraged to conduct their own research and consult qualified financial advisors before making investment decisions [1].

Sources:

[1] TimesTabloid – [Analyst: XRP Will Break This Bullish Falling Wedge and Hit $4 In Next 2 Days](https://timestabloid.com/analyst-xrp-will-break-this-bullish-falling-wedge-and-hit-4-within-next-2-days/)

[2] AInvest – [XRP News Today: XRP and XLM Face Key Resistance as ...](https://www.ainvest.com/news/xrp-news-today-xrp-xlm-face-key-resistance-bullish-momentum-pauses-2508/)

[3] Mitrade – [Ethereum and XRP Could Surge 200%-300% If Bitcoin ...](https://www.mitrade.com/insights/news/live-news/article-3-1001992-20250731)