Currently, 
XRPUSDT is trading at $2.99, slipping through the key support level of $3.00. While the altcoin is still over 22% away from its ATH of $3.66, the foundation for potential growth remains strong. Historical data has shown that August typically brings bearish momentum for XRPUSDT, with median monthly returns of -6%.
However, given the strong buying activity observed recently and the positive technical indicators, this August might defy the usual trend. IfXRPUSDT manages to secure support above $3.41, the altcoin could push towards its ATH once again. Alexis Sirkia, Captain at Yellow Network, discussed with BeInCrypto how XRP’s future could be looking like.
“Institutions that have been in the market for a while are gaining momentum. We're also, in the meanwhile, in a macro environment where funds are doing risk rotation…XRPUSDT is taking its stand with regulation and infrastructure, not hype. That's what will endure in the long run. Short-term flows are fleeting, but the groundwork laid today will define the cycle to follow.”
However, there’s a downside risk. IfXRPUSDT fails to reclaim the $3.00 support, the price could fall to $2.65, invalidating the bullish thesis. A drop to this level would mark a four-week low and would likely lead to further selling pressure.
XRPUSDT is trading at $2.99, slipping through the key support level of $3.00. While the altcoin is still over 22% away from its ATH of $3.66, the foundation for potential growth remains strong. Historical data has shown that August typically brings bearish momentum for XRPUSDT, with median monthly returns of -6%. However, given the strong buying activity observed recently and the positive technical indicators, this August might defy the usual trend. If
XRPUSDT manages to secure support above $3.41, the altcoin could push towards its ATH once again. Alexis Sirkia, Captain at Yellow Network, discussed with BeInCrypto how XRP’s future could be looking like.“Institutions that have been in the market for a while are gaining momentum. We're also, in the meanwhile, in a macro environment where funds are doing risk rotation…
XRPUSDT is taking its stand with regulation and infrastructure, not hype. That's what will endure in the long run. Short-term flows are fleeting, but the groundwork laid today will define the cycle to follow.”However, there’s a downside risk. If
XRPUSDT fails to reclaim the $3.00 support, the price could fall to $2.65, invalidating the bullish thesis. A drop to this level would mark a four-week low and would likely lead to further selling pressure.
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Truly Unbiased Cryptocurrency News beincrypto.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.