XRP slipped to $1.0662 on Bitstamp by August 3, dropping 1.75% from its session open. The token trades about 43% down for the year and nearly 70% below its peak near $3.65 last summer. Despite its low price, XRP remains trapped in a bearish setup, sitting 31% under its 200-day EMA at $1.40, which continues to slope downward signaling a persistent downtrend.
The recent break above the descending trendline from May’s high around $1.50 initially raised hopes of a reversal, but the rally failed to hold. Instead, XRP drifted back toward the middle of its trading range between $1.00 and $1.19. Momentum indicators paint a muted picture too; the RSI at 46.51 shows there’s no clear surge in buying pressure. Support at $1 remains solid after multiple tests since June, though resistance clusters near $1.15 and $1.20 have capped upside attempts.
In the absence of volume expansion or a decisive close above $1.15, the trendline break lacks conviction. XRP’s price action resembles consolidation rather than accumulation, leaving sellers firmly in control for now.
This content is for informational purposes and does not constitute financial advice.
