XRP Price Analysis for August 4
According to the CoinMarketCap ranking, buyers are trying to return to the game.
Top coins by CoinMarketCap
XRP/USD
The price of XRP has fallen by 0.53% over the last 24 hours.
Image by TradingView
Traders should monitor the local resistance level at $0.6657 on the local chart. Should the day close near this value, a breakout could potentially trigger an increase towards the $0.67 region in the near term.
Image by TradingView
On the daily chart, the situation remains bearish as the price is below the vital mark of $0.6812. As long as the price remains below this level, a drop is more likely than a rise.
In this instance, a correction could potentially result in the testing of the $0.63-$0.64 zone in the near future.
Image by TradingView
From the mid-term point of view, traders should focus on the level of $0.6740. If the bar closes below this level and the bulls fail to take control, there might be a continuation of the decrease to the mirror level of $0.60 in the coming weeks.
XRP is trading at $0.6641 at press time.