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XRP (XRP) Price Prediction and Analysis For August 29
The price of XRP is around $3.00 today, after bouncing back from $2.95 support earlier this week. The token has been moving up and down in a smaller triangle, and traders are waiting for a big move as the price becomes less volatile.
Ripple’s Oracle Innovation is a new reason for institutions to adopt it, and ETF inflows keep growing after the SEC’s decision to stop classifying it. Still, traders are split on whether XRP is getting ready to break out or test deeper supports again because it has been stuck at $3.20 and has failed to break higher several times.
XRP Price Holds Firm as Triangle Pattern Tightens
XRP price dynamics (Source: TradingView)
On the daily chart, XRP is trading inside a symmetrical triangle, capped by resistance at $3.20 and supported by the $2.95–$2.97 region. A breakout in either direction is likely to define the next trend.
Key moving averages are converging. The 20-day EMA sits at $3.02, overlapping with price, while the 50-day EMA at $2.95 acts as immediate support. The 100-day EMA at $2.76 and 200-day EMA at $2.49 mark the deeper base if bearish momentum takes hold. The Parabolic SAR dots above price suggest sellers still have c…
The post XRP (XRP) Price Prediction and Analysis For August 29 appeared first on Coin Edition.
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