<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The market might not have found a local bottom yet, according to <a href="https://u.today/ethereum-eth-prediction-for-august-2" rel="noopener noreferrer nofollow">CoinStats</a>. <img data-entity-type="file" data-entity-uuid="cc6704ae-55a2-4627-b574-f971b550fc2b" src="https://u.today/sites/default/files/inline-images/top10_1273.png">XRP chart by&nbsp;<a href="https://coinstats.app/coins/" rel="noopener noreferrer nofollow">CoinStats</a>
<h2 class="text-align-justify" id="xrp-usd">XRP/USD</h2>
The rate of XRP has gone down by 0.33% over the last 24 hours. <img data-entity-type="file" data-entity-uuid="e1931e95-665b-4619-96e0-9d7d471e8fb4" src="https://u.today/sites/default/files/inline-images/xrp1_177.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/XRPUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of XRP is near the local resistance level of $0.5755.
If buyers can hold the gained initiative and the bar closes near that mark, one can expect a breakout followed by a move to the $0.59 zone. <img data-entity-type="file" data-entity-uuid="1b50e325-3c38-4d06-a675-f68d873cf99e" src="https://u.today/sites/default/files/inline-images/xrp2_172.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/XRPUSDT" rel="noopener noreferrer nofollow">TradingView</a>
On the daily time frame, the rate of the altcoin has made a false breakout of yesterday's bar low. If the candle closes far from it, there is a chance of a bounce back to the $0.58-$0.59 range. <img data-entity-type="file" data-entity-uuid="5ad48c3b-627a-4424-a7d9-c5dfac2db186" src="https://u.today/sites/default/files/inline-images/xrp3_167.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/XRPUSDT" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, the price of XRP is far from the key levels. If nothing changes by the end of the week, ongoing sideways trading in the area of $0.54-$0.64 is the more likely scenario.
XRP is trading at $0.5685 at press time.

XRP Prediction for August 3

Table of Contents

U_Today

Other articles published on Aug 3, 2024

PONKE, SEI, and NEAR Experience Volatility: Analysis

Forget about Ethereum ETFs — Here's what you can do instead

What is Duko Memecoin?

QUASA is The World's Only Mobile App For Remote Work With Payments in Crypto

Nvidia delays next gen AI chip as investors issue ‘bubble’ warning

Retail Investors Sell, Whales Buy: Big Players Positioning for Bitcoin’s Next Massive Rally?

Join our free newsletter for daily crypto updates!