XRP Faces Downtrend as Bollinger Bands Signal Weakness
XRP is closing August under pressure as Bollinger Bands readings turn bearish. On the weekly chart, prices have fallen from summer highs near $3.60 to just above $2.80, with the middle band sloping downward. Daily data confirm the token remains below its midline, facing repeated resistance at $3.10–$3.20 and trading near the lower band. Shorter time frames (12-hour, 4-hour and 1-hour) also show a grind along the lower band, indicating weak buying momentum. Key support lies at $2.70; a breach could open the way to $2.40. Conversely, reclaiming the $3.00 zone would offer a bullish reversal signal. Overall, XRP’s Bollinger profile suggests traders adopt caution as market sentiment turns defensive.
Bearish
The convergence of weekly, daily and intraday Bollinger Bands all pointing downward signals a genuine loss of buying momentum for XRP. Historically, breaches of the lower band in late stages of consolidation (as seen in Q1 2024) led to further declines of 10–15% before stabilizing. In the short term, traders are likely to adopt defensive strategies, watching support at $2.70 closely. If that level fails, a drop toward $2.40 is possible. However, a recovery above $3.00 could mark a shift toward a bullish reversal. Until a clear breakout occurs, market participants should brace for continued weakness.