XRP News Today: XRP Stuck in $2.90–$3.30 Range Amid Bullish and Bearish Struggle

XRP price remains in a tight trading range as of August 12, fluctuating between $2.90 and $3.30 following a late July rally that pushed the price to a high of $3.66 [1]. Current levels are hovering around $3.13, with key resistance at $3.30 and support near $3.05–$3.10. Over the past few sessions, sellers have been active near the upper end of the range, preventing a breakout, while buyers have consistently stepped in to prevent a deeper pullback [2].

Yesterday’s prediction accurately outlined the price action, noting that a move above $3.25–$3.30 could trigger a push toward $3.40. However, XRP’s failed attempt to clear this level led it to retrace back to the $3.12 area, aligning with the expected consolidation [1]. The price remains within the defined flag pattern, with both sides of the market testing critical levels in an effort to gain control.

According to technical analysis, the RSI stands at 53.33, indicating balanced momentum, while the MACD suggests a slight bullish bias with a light upward crossover. The ADX reading of 27.229 reflects a moderate trend without a strong directional bias. These indicators suggest the asset is in a consolidation phase with no imminent breakout [2].

Looking ahead, several analysts have outlined potential price scenarios. A bullish outcome would require a daily close above $3.30–$3.33, which could open the door to $3.50 and potentially $3.66 under strong volume. In a neutral scenario, XRP is likely to remain range-bound between $2.90 and $3.30 until more decisive volume emerges. A bearish development would see the price slip below $3.10, opening the next support level at $3.00 and possibly $2.80 if the downward trend continues [1].

From a broader perspective, some analysts are applying the Elliott Wave theory to XRP’s price movement, suggesting the asset may be entering Wave 5 of a larger upward trend. Analyst Mr. Xoom estimates this could lead to a 120% to 215% price increase, potentially pushing XRP toward $7–$10 [1]. South Korean expert XForceGlobal and analyst EGRAG also project a similar target of $9–$10, with further potential extending to $27 if bullish conditions persist.

Technical analysts have also noted the formation of a “Cup and Handle” pattern, suggesting a potential rally to $11 [6]. Additionally, a Fibonacci extension model has been cited as a key target, projecting a price of $4.20—a 80% increase from current levels [3]. While these predictions offer optimism, traders are advised to remain cautious, as recent volatility and declining volume indicate uncertainty.

Currently, XRP has declined by 4.01% in the past few days, with a 24-hour change of -1.95% and a volume of 1.03 billion, slightly below the predicted 1.12 billion [2]. The market cap stands at $189.23 billion, reflecting a mixed sentiment among investors.

In conclusion, XRP is in a critical waiting period, with both bulls and bears locked in a battle around key levels. A breakout above $3.30–$3.33 would signal renewed bullish momentum, while a slide below $3.10 could indicate a deeper correction. Until one side gains dominance, the asset is expected to remain in a lateral trading pattern, with potential for either a strong rally or further consolidation.

Source:

[1] Expert Forecast XRP Price for Wave 5 (https://timestabloid.com/expert-forecast-xrp-price-for-wave-5/)

[2] XRP Price Prediction for Today (August 12) (https://coinmarketcap.com/community/articles/689aaf2f3962772b13d6607f/)

[3] XRP Crypto News: Price Could Explode 80% Higher (https://thetradable.com/crypto/xrp-crypto-news-price-could-explode-80-higher-heres-why-420-is-next--0--v)

[4] XRP eyes $3.70 after $3.30 surge — is the $5 target now in (https://m.economictimes.com/news/international/us/xrp-price-prediction-xrp-eyes-3-70-after-3-30-surge-is-the-5-target-now-in-play/articleshow/123237428.cms)

[5] BTC, ETH, RTX & XRP Price Predictions: Identifying Likely (https://coincentral.com/btc-eth-rtx-xrp-price-predictions-identifying-likely-record-setters-in-near-term/)

[6] XRP Price Prediction: Ripple Price Could Rally to $11 as (https://bravenewcoin.com/insights/xrp-price-prediction-ripple-price-could-rally-to-11-as-cup-and-handle-pattern-nears-completion)