XRP Price Analysis for August 4

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According to the CoinMarketCap ranking, buyers are trying to return to the game.

Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

XRP/USD

The price of XRP has fallen by 0.53% over the last 24 hours.

XRP/USD chart by TradingView

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.

XRP/USD chart by TradingView

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.

XRP/USD chart by TradingView

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.

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