The post XRP Price Prediction For August 29 appeared first on Coinpedia Fintech News
The crypto market is moving sideways today, holding a total market cap of $3.87 trillion, a mild uptick of 0.12% in the past 24 hours. XRP is showing signs of short-term strength, but the bigger picture still points toward danger.
Bearish Divergence Still in Play
On the weekly time frame, XRP continues to show a confirmed bearish divergence that has not yet been invalidated. This could mean that the market is still under pressure from a larger cooling phase. Analysts had already warned of this risk when XRP was trading near its highs around $3.40, and so far, the market has been following that projection.
While this larger divergence hints at a prolonged pullback lasting weeks, or even months, it does not mean the price will fall in a straight line. Instead, the market is likely to experience short bursts of bullish relief rallies within the overall downtrend.
Bitcoin’s Influence on XRP
The latest bounce in XRP can be linked to Bitcoin’s own bullish divergence, which has given the wider altcoin market some breathing space. With Bitcoin dominance pulling back, altcoins like XRP are finding room to stage temporary recoveries.
However, these moves should be viewed as short-term relief, not a full reversal of the trend.
Important Levels To Watch
In terms of levels, XRP continues to test some crucial areas. Strong support can be found around the $2.85 to $2.90 region, with additional backing near $2.75. A deeper decline could bring the price closer to the $2.55 to $2.62 range. On the upside, the immediate barrier sits near $3.10, while a more significant hurdle remains in the $3.34 to $3.40 zone, which has already rejected rallies in the past.
If XRP manages to break convincingly above $3.10, the bulls could aim for a retest of $3.40. Failing to hold above $2.85, however, might open the door to further losses. For now, the coin is in a phase of short-term recovery,
