- XRP eyes $3.03 monthly close as analysts highlight breakout.
- Resistance at $3.10 could trigger XRP retracement toward $2.83.
- Community awaits August close to confirm bullish or consolidating trend.
XRP is moving within a decisive range as the final days of August approach, with traders closely monitoring its performance around the $3 mark. According to analyst EGRAG CRYPTO, a monthly close above $3.03 would confirm strength and pave the way for the final stage of the current bullish move. The remark has attracted attention because the closing candle may dictate the short-term future of the token.
In the chart shared in his tweet, XRP was quoted at $2.9956, indicating a negative 0.67 percent change in the last 24 hours. Price activity showed notable volatility, swinging between $2.9483 and $3.0459, representing a push by the market to take the token upwards as the it repeatedly tested the support levels.
Also Read: Pundit to XRP Holders: “It’s Bigger Than You Think” – Here’s What it Means
Resistance and Risk of Retracement
In a separate post, Ali Martinez highlighted a key development in XRP’s movement, noting that XRP failed to break through the $3.10 resistance zone. He described a rejection at this level as having the potential to lead to a retrace of $2.83. At the same time, the charts illustrated multiple unsuccessful attempts to sustain momentum above this threshold, suggesting the zone remains a significant barrier for buyers.
Nonetheless, XRP recovered and rose again after falling below $2.90 to trade at a higher level of over $3.00. Market participants are monitoring the price of $2.96, which has become a short-term support line. Remaining above this level may be important in avoiding greater losses while keeping the hopes of retesting higher levels.
Monthly Close Becomes the Focus
The spotlight now rests on the monthly close in August. Analysts suggest that a close above $3.03 would reinforce bullish momentum and strengthen market confidence. Conversely, an inability to achieve this target may extend the consolidation phase that has prevailed in XRP’s recent trend.
The XRP community continues to watch with interest as the technical picture narrows into a decisive moment. As long as resistance is at $3.10 to prevent an upward move and the downside is to $2.83 is still on the table, the ultimate August trading will be one of the determinants in the short-term XRP price.
XRP will pass a decisive stage at the end of August. Analysts have pointed to $3.03 as the level that could shape momentum, while $3.10 remains strong resistance, and $2.83 is a possible retracement target.
Also Read: Pundit Outlines Why XRP Is One of the Most ‘Hated’ Crypto
