XRP Price Prediction for August 8
Buyers remain more powerful than sellers at the end of the day, according to CoinStats.
XRP/USD
XRP is one of the biggest gainers today, rocketing by 7%.
On the hourly chart, the rate of XRP has broken the local support of $3.2704. If the daily bar closes around the current prices or below, the correction is likely to continue to the $3.15 zone.
On the longer time frame, the price of XRP has made a false breakout of yesterday’s bar peak of $3.333.
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If the decline continues, there is a high chance of seeing a test of the $3.10-$3.15 zone shortly.
From the midterm point of view, one should focus on the weekly candle closure. If it happens above $3.33 and with no long wick, one can expect an ongoing upward move to the resistance of $3.66.
XRP is trading at $3.2394 at press time.