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XRP Price Analysis for August 31

31 Aug, 20222 min readAnalytics
XRP Price Analysis for August 31

The market has not decided yet which way to move as neither bulls nor bears have seized the initiative.

XRP/USD

The price of XRP is almost unchanged as it has only gone up 0.22%.

On the local chart, XRP has started to drop after the breakout of the $0.3287 level. Currently, there are no signals for a fast reversal as the bulls have not accumulated enough power.

The drop can stop if a false breakout of the support level at $0.3199 occurrs.

On the bigger time frame, XRP is coming back to the support level at $0.3199 against the high volume. If the closure happens around this mark, the ongoing fall may continue to the $0.3150 zone soon.

On the weekly chart, XRP is located closer to the support level than to the resistance, which means that there are more chances to see a further fall than local growth. The rise may happen only if bulls can return the price above the $0.34 mark and fix there.

XRP is trading at $0.3247 at press time.

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