XRP Primed for Rise Towards $5 Following Crucial Test of $2.96 Support Level
In the ever-evolving world of cryptocurrencies, the market sentiment for XRP remains cautiously optimistic, with traders keeping a close eye on the price as it hovers around a critical support level of $2.96[1].
Technical indicators suggest a potential turning point for XRP. The Relative Strength Index (RSI) is trying to print a bullish divergence on small timeframes, hinting at a possible resurgence in strength for XRP at this support level[2]. Additionally, a surge in the funding rate, indicating increased leverage or open interest in futures markets, points towards heightened trader activity and possible volatility[1].
In July 2025, XRP displayed strong bullish momentum, surging over 65% from early July to mid-July, breaking above the $3 resistance level, and reaching a yearly high of about $3.66[1][2]. However, recent trading in August 2025 has seen XRP struggling around the $3 support, leading analysts to emphasize the importance of XRP closing August above $3.3 to trigger a confident upward surge potentially targeting new highs[3].
Analyst projections remain broadly bullish if XRP can hold above key support. Mr. Xoom predicts XRP could rally to between $6 and $8 by August 2025, representing a potential doubling or more from current price levels, driven by improved legal clarity around Ripple and technical breakouts[1][2]. Other analysts project a more conservative path with price targets ranging from around $3.12 to as high as $5.50-$5.53 in the medium term, depending on if XRP breaks the consolidation phase[4].
Analyst CasiTrades considers the $2.96 level as crucial for XRP's price movement, while CryptoBull predicts that a successful retest of the $2.96 level could lead to further gains, with potential targets at $3.50 and $5[5]. If XRP successfully maintains its position above $2.96, it could signal a normal retracement in a broader uptrend.
Meanwhile, the crypto landscape continues to evolve. The Trump Administration has signed the GENIUS Act, mandating stablecoin backing rules[6]. A16z and DeFi Education Fund have petitioned the SEC for DeFi regulatory clarity[7]. Sapien is bringing millions of minds onchain to train AI[8], and there's a new project called TOP with no further details provided[9].
In other news, Ripple acquired Rail for $200 million to boost its payment network[10], Diginex is acquiring compliance firm Findings for $305 million[11], and there's a press release for a project called Sapien with no further details provided[12]. BTCC Exchange announced its first sports sponsorship with NBA's Jaren Jackson Jr.[13], and a bullish cryptocurrency exchange saw a 176% surge on its IPO debut[14].
OpenServ and LunarCrush are turning 50 million posts an hour into AI apps[15], while ChainCatcher collaborated with Alibaba Cloud for Web3 infrastructure[16]. The White House criticized US banks for Bitcoin ETF access limitations[17], and Bitcoin leverage has hit a 5-year high as ETF inflows surge[18].
As the market dynamics for XRP reflect a critical support level around $2.96, the near-term outlook for XRP depends on overcoming the $3 to $3.3 resistance zone with solid momentum. If successful, the bullish trend may fuel the anticipated surge to new all-time highs. Failure to hold support may lead to further consolidation or correction before another attempt at rallying[1][2][3][4].
[1] Source 1 [2] Source 2 [3] Source 3 [4] Source 4 [5] Source 5 [6] Source 6 [7] Source 7 [8] Source 8 [9] Source 9 [10] Source 10 [11] Source 11 [12] Source 12 [13] Source 13 [14] Source 14 [15] Source 15 [16] Source 16 [17] Source 17 [18] Source 18
Cryptocurrency investing in XRP remains intriguing amid ongoing financial analysis, as the technology behind it continues to reshape the financial landscape. The approaching GENIUS Act regulation and DeFi projects increasing in number add to the intrigue, while investors await the possible surge of XRP if it can breach the $3 to $3.3 resistance zone.
