XRP Price Prediction: $3 Ripple Support Holds Firm, Can Institutional Fuel $5 Target?
XRP held firm above $3 last week despite whale-linked outflows and legal uncertainties, with fresh bullish signals pointing toward new highs
Quick overview
- XRP maintained its position above $3 last week despite significant whale-linked outflows and ongoing legal uncertainties.
- After a sharp pullback, XRP showed signs of bullish defense with daily candlestick patterns indicating potential trend reversal.
- Growing institutional adoption, particularly from Bank of America, supports XRP's long-term utility and valuation.
- Legal uncertainties surrounding Ripple's case with the SEC persist, but optimism remains as a court date approaches.
XRP held firm above $3 last week despite whale-linked outflows and legal uncertainties, with fresh bullish signals pointing toward a potential new high.
XRP Respects $3 Level After Sharp Pullback
After several months of tight consolidation between $1.90 and $2.00, XRP exploded higher in late June, breaking decisively through the $3.00 mark and rallying to a peak of $3.65 in early July. This move came despite an overall cautious crypto market, and was seen as confirmation of a structural breakout.
Yet, the bullish momentum began to lose steam as Bitcoin slipped back to $111,000 and XRP reversed toward the $3.00 threshold. Although last Monday saw a brief intraday spike back to $3.64, the move failed to hold.
Ripple Chart Weekly – The $3 Level Held As Support
The timing of the pullback coincided with large XRP transfers from wallets associated with Ripple co-founder Chris Larsen, reportedly worth over $140 million and linked to major exchanges and newly created wallets — sparking concerns of increased selling pressure.
Buyers Return as Technical Support Holds
Despite the alarming size of the reported transfers, XRP didn’t fall far below the psychological $3.00 zone. The price dipped to $2.97 late last week but quickly rebounded. Daily candlestick patterns — particularly a series of dojis near support — hint at a strong bullish defense and possible trend reversal.
XRP Chart Daily – The 20 SMA Added to the Support
Combined with the ongoing pattern of higher lows, price action suggests renewed buying interest, and possibly another attempt to challenge the $3.65 high. If momentum returns, targets at $4 and even $5 are back in play.
Institutional Adoption Reinforces Long-Term Outlook
Underlying the price action is growing institutional trust in Ripple’s blockchain network. Bank of America, a Ripple partner since 2019, remains one of over 500 global financial institutions using RippleNet for efficient cross-border settlements. This extensive adoption lends fundamental support to XRP’s long-term utility and valuation, especially as digital payments infrastructure gains broader relevance.
Legal Uncertainty Lingers, But Optimism Grows
The upcoming August 15 court date in Ripple’s prolonged battle with the U.S. SEC adds a layer of legal suspense to XRP’s trajectory. While some anticipate a definitive outcome, former SEC attorney Marc Fagel has cautioned that a full resolution may still take one to two more months. Even so, the prospect of closure continues to bolster market sentiment — and any positive development could act as a major tailwind for price action in the weeks ahead.
Ripple Live Chart
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