XRP is trading within a bullish structure, requiring a daily close above $3.12 to confirm a market bottom and resume upward momentum, while $2.65 acts as critical support.
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XRP must close above $3.12 daily to confirm a market bottom and continue its bullish trend.
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Support at $2.65 is crucial; a break below could weaken the mid-term bullish setup.
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XRP futures open interest reached $788 million, driven by ETF approval speculation and increased market demand.
XRP price analysis reveals key levels at $3.12 and $2.65; futures interest surges amid ETF talks. Stay informed with COINOTAG’s latest crypto insights.
What Is the Current XRP Market Structure and Key Price Levels?
XRP is currently trading within a well-defined bullish macro structure, with the critical daily close above $3.12 needed to confirm the recent market bottom. Until this confirmation, the $2.65 support level remains pivotal. A failure to hold this support could signal a weakening of XRP’s mid-term bullish outlook.
How Does Historical Price Behavior Support XRP’s Bullish Outlook?
Analysis from EGRAG Crypto highlights XRP’s long-term cycle chart spanning 2013 to 2025, showing consistent uptrends during peak and mid-cycle phases. This historical data suggests that if XRP closes above $3.12 daily, the bullish momentum is likely to continue, targeting higher price levels such as $7.5. The $1.20 breakout zone remains a key entry point for traders.
#XRP – Macro View with Micro close:
The macro view and formation is still intact and the potential targets are super clear.
Now the micro closure is needed above $3.12 on daily time frame to confirm the low was in. Other than that $2.65 is still in the cards. Holding it as… pic.twitter.com/N8K0cqggz5
— EGRAG CRYPTO (@egragcrypto) August 2, 2025
What Are the Implications of XRP’s Trading Activity and Market Sentiment?
At the time of writing, XRP trades at $2.96, reflecting a 1.15% daily gain and a market capitalization of $175.82 billion. Despite a 14.26% decline in 24-hour trading volume to $6.92 billion, XRP remains the third-largest cryptocurrency by market cap, indicating sustained investor interest.
Futures markets show growing interest, with CME reporting XRP futures open interest at $788 million as of July 24. Speculation around a potential Ripple ETF approval remains high, with Polymarket indicating an 86% chance of approval before the end of 2025. This optimism is fueling both institutional and retail demand.
What Are Analysts Saying About XRP’s Near-Term Price Targets?
Market participants are divided; one trader recently opened a $500,000 short position expecting a correction from recent highs. Conversely, other analysts project a recovery with price targets reaching as high as $10 in upcoming sessions, supported by the bullish macro structure and ETF speculation.
What Are the Critical Support and Resistance Levels for XRP?
The $3.12 level acts as a short-term confirmation point, where a daily close above it would validate the market bottom. If XRP fails to close above this level, the $2.65 support remains crucial. A break below $2.65 could weaken the bullish setup, with additional support potentially forming between $2.55 and $2.40, according to analyst Ali Charts.
Frequently Asked Questions
What is the significance of XRP’s $3.12 daily close?
A daily close above $3.12 is essential to confirm the recent market bottom and validate the continuation of XRP’s bullish trend. Without this, the price may retest lower support levels.
Why is XRP’s support at $2.65 important?
The $2.65 support level acts as a critical safety net. If breached, it could signal a weakening of the bullish setup and increase the risk of further price declines.
How does ETF speculation affect XRP’s price?
ETF approval speculation boosts market optimism, increasing futures open interest and trading activity, which can drive XRP’s price higher in anticipation of regulatory clarity.
Key Takeaways
- Daily Close Above $3.12: Confirms XRP’s market bottom and bullish momentum.
- Support at $2.65: Critical level to prevent mid-term bearish reversal.
- Futures Open Interest: Rising to $788M, signaling strong institutional and retail demand amid ETF speculation.
Conclusion
XRP’s price action remains bullish within a well-defined macro structure, with the daily close above $3.12 serving as a key confirmation point. Support at $2.65 is crucial to maintain momentum, while growing futures interest and ETF speculation continue to drive market optimism. Traders should watch these levels closely as XRP navigates its next phase of price discovery.
XRP trades within a bullish structure as traders await a daily close above $3.12 to confirm a market bottom and resume upward momentum.
- XRP must close above $3.12 daily to confirm a market bottom and continue its bullish structure.
- Key support lies at $2.65; a break below this level could weaken XRP’s mid-term bullish setup.
- XRP futures open interest rises to $788M as ETF speculation fuels institutional and retail demand.
XRP continues to trade within a clearly defined macro bullish structure, with the focus now shifting to a micro-level confirmation. A daily candle close above $3.12 is required to validate that the recent low is established. Until then, $2.65 remains in play as a possible downside target.
Macro Structure Holds as Price Trades Near Key Levels
According to analysis prepared by EGRAG Crypto via X, XRP’s broader bullish formation remains intact. The long-term cycle chart highlights historical trends from 2013 through 2025, showing price behavior during peak cycles and mid-cycle tops. These formations suggest a sustained uptrend if key technical conditions are met.
#XRP – Macro View with Micro close:
The macro view and formation is still intact and the potential targets are super clear.
Now the micro closure is needed above $3.12 on daily time frame to confirm the low was in. Other than that $2.65 is still in the cards. Holding it as… pic.twitter.com/N8K0cqggz5
— EGRAG CRYPTO (@egragcrypto) August 2, 2025
Price currently moves within a bullish pennant formation, with $7.5 as the projected target and $1.20 as a breakout entry zone. The $3.12 level now represents a short-term confirmation point. A close above it on the daily timeframe would support the thesis that the market bottom has been set.
If that close fails to occur, then the $2.65 support remains valid. A break below $2.65 on the mid-timeframe (MTF) could weaken the setup. According to a separate observation by analyst Ali Charts, additional support may emerge in the $2.55–$2.40 zone.
Trading Activity and Market Sentiment Remain Active
XRP was trading at $2.96 at the time of writing, reflecting a 1.15% daily gain, with a market cap of $175.82 billion. The trading volume over 24 hours reached $6.92 billion, though it showed a 14.26% decline from the previous day. XRP remains ranked #3 by market cap.
Meanwhile, futures activity continues to grow. According to CME, open interest in XRP futures hit $788 million on July 24. Market speculation around a potential Ripple ETF also continues, with Polymarket showing an 86% probability of approval before 2025 ends.
A trader recently opened a $500,000 short against XRP, expecting a correction from recent highs. However, other analysts expect a recovery, projecting price targets as high as $10 in upcoming sessions.
