12th August 2025 – (New York) XRP (XRP-USD) is currently trading at $3.16, having briefly risen to $3.20 before stabilising after defending the $3.15 support level. This follows a strong spike earlier in the session to $3.33, which triggered profit-taking. Despite the day’s fluctuations, buyers remain firmly in control above the $3.15-$3.18 range, indicating robust demand at these lower levels.
The wider cryptocurrency market is experiencing modest gains as traders await U.S. Consumer Price Index (CPI) data this week, which may impact short-term risk sentiment. XRP’s current market structure suggests accumulation ahead of a potential breakout towards higher resistance levels.
Immediate support for XRP is at $3.15, which has withstood multiple tests in the last 48 hours. The next key downside level is $3.05, aligning with the 20-day moving average and crucial for maintaining a bullish short-term outlook.
On the upside, the first resistance is at $3.33, the intraday peak, followed by a range of $3.35-$3.38, where selling pressure has historically appeared. A confirmed daily close above $3.38 could pave the way for a rally towards $3.50, with further momentum potentially leading to a test of $3.65.
Recent on-chain data indicates an increase in transactions exceeding $1 million, suggesting whale accumulation in the $3.10-$3.20 range. Additionally, institutional sentiment towards XRP is cautiously improving, driven by speculation that Ripple’s regulatory challenges may be resolved within the next year.
Although XRP still lags behind Bitcoin and Ethereum in derivatives market open interest, positive funding rates indicate an underlying bullish sentiment among leveraged traders.
The Relative Strength Index (RSI) stands at 59, indicating bullish momentum without nearing overbought conditions. The MACD remains above the signal line, reflecting steady upward pressure, while the histogram shows mild positive bars, suggesting gradual accumulation.
Price action remains above the 50-day moving average ($3.05) and the 200-day moving average ($2.82), reinforcing a medium-term bullish trajectory. Short-term traders might consider entering near the $3.15-$3.18 range with tight stops below $3.05. Upside targets include $3.33 and $3.38, with potential extensions towards $3.50-$3.65 if bullish momentum continues post-CPI release.
For swing traders, a confirmed breakout above $3.38 would warrant a long position targeting $3.50-$3.65, with risk management set below $3.15. Conversely, a close below $3.05 could weaken the bullish setup and bring $2.95 back into focus. XRP’s consolidation above $3.15 and repeated tests of $3.33 resistance indicate increasing bullish pressure. A breakout above $3.38 could trigger a rally towards $3.50-$3.65, while failure to maintain $3.05 would neutralise the short-term bullish outlook.
