XRP Price Prediction: Elliott Wave Setup Warns Current Bounce Could Precede Another Sell-Off in August

With XRP trading around the $1.08 area in the referenced market snapshot, traders are watching whether buyers can break the prevailing descending structure or whether another leg lower develops.

The latest technical picture remains mixed. TradingView’s XRP/USD data shows the token trading below several major moving averages, while its oscillator readings are closer to neutral. That divergence leaves the near-term XRP price prediction dependent on whether the current rebound can develop enough momentum to challenge overhead resistance.

XRP Price Prediction Faces Elliott Wave Test

A technical analysis shared by @Morecryptoonl uses Elliott Wave analysis to question whether XRP’s recent recovery is a genuine trend reversal or simply a corrective bounce within a larger decline. The chart tracks XRP/USD across daily and four-hour timeframes and identifies several impulse and corrective structures, including A-B-C and five-wave formations.

Elliott Wave analysis suggests XRP’s current rebound may be a temporary corrective pause before a potential broader sell-off resumes. Source: @Morecryptoonl via X

The analysis also highlights the 50%, 61.8%, and 78.6% Fibonacci retracement levels. These zones are being used to assess how far the current recovery can extend before sellers potentially return.

The key distinction is that an upward move does not automatically invalidate a bearish Elliott Wave count. If the rebound remains corrective and fails to break important resistance, the broader downside structure could remain intact. Some responses to the analysis similarly characterized the recovery as corrective so far, although such wave counts remain interpretations rather than objectively confirmed forecasts.

That makes the current XRP price action particularly important. A sustained break above the descending trendline would weaken the bearish interpretation, while another rejection could strengthen the case for a continuation of the existing corrective phase.

XRP Price Today Holds Near $1.08

XRP/USD was recently quoted around $1.07875 in the referenced Bitstamp technical snapshot, up about 1.82% during the session. At that level, the token was positioned close to the $1.08-$1.09 area, which technical indicators identify as an important short-term equilibrium zone.

XRP price chart. Source: Brave New Coin

TradingView’s latest available page also places XRP just below $1.12 resistance, with a daily close above that level potentially opening the way toward $1.16. Immediate support was identified around $1.09 in that newer snapshot, showing how quickly the relevant technical levels can shift as the market moves.

For the referenced setup, however, the more immediate levels remain around $1.045-$1.050 on the downside and $1.10-$1.12 on the upside. A move through either area could provide clearer evidence about the next direction.

The broader performance picture also remains subdued. TradingView’s latest data shows XRP down substantially over longer periods despite a modest monthly gain, underscoring that the current recovery is occurring within a much weaker broader trend.

Descending Channel Keeps XRP Bears in Focus

Another technical setup from Structure_View identifies a well-defined descending channel that has contained XRP price action for several weeks. The pattern is characterized by lower highs and lower lows, with recovery attempts repeatedly failing beneath the channel’s upper boundary.

XRP remains in a descending channel marked by lower highs and lower lows, keeping short-term selling pressure dominant. Source: Structure_View on TradingView

That structure supports the more cautious interpretation of the XRP forecast. As long as XRP remains inside the channel, rallies can be viewed as recoveries within a broader downtrend rather than confirmed bullish reversals.

The analysis identifies a first demand area around a $63.5 billion market capitalization and a deeper zone near $56.2 billion if channel support gives way. Those are market-cap reference areas rather than fixed XRP price targets, so their relevance would depend on the token’s circulating supply and the price at which the zones are tested.

A decisive breakout above the channel, meanwhile, would alter the technical picture. Such a move would weaken the series of lower highs and could indicate that buyers are beginning to regain control.

$1.045 Support Becomes Key for XRP

The two-hour XRP/USDT setup from MarketStrategysignals adds another layer to the bearish structure. It identifies $1.045 as a key support level after XRP rejected a bearish order block and the upper boundary of the descending channel.

XRP/USDT remains trapped in a descending channel, with rejection at the Order Block and upper trendline keeping the broader structure bearish. Source: MarketStrategysignals on TradingView

According to the setup, holding the $1.045-$1.050 region could allow XRP to sweep nearby liquidity and attempt a rebound toward $1.08. A stronger recovery could then bring the $1.10-$1.12 order-block resistance into focus.

Conversely, a strong candle close below support would increase the risk of further weakness. The analysis argues that any recovery would likely remain limited while XRP stays beneath the descending trendline.

The setup therefore establishes a straightforward technical dividing line: support around $1.045 is important for preventing another immediate breakdown, while a sustained break above the descending structure would be needed to improve the broader outlook.

XRP Technical Indicators Show Mixed Momentum

TradingView’s technical readings provide some evidence for both sides of the market. In the referenced XRPUSD snapshot, the overall rating was Neutral, based on 13 sell signals, nine neutral readings, and four buy signals. The oscillator group was also Neutral, while moving averages were considerably more cautious.

The Relative Strength Index (RSI) stood at 46.28, placing momentum near the middle of its range. That reading does not indicate an overbought or oversold market. Stochastic %K was 18.52, while the Commodity Channel Index (CCI) was -74.78, with both remaining in neutral territory.

The Average Directional Index (ADX) was just 11.24, suggesting limited trend strength in that particular snapshot. Momentum at -0.02834 generated a buy signal, and Stochastic RSI Fast at 10.80 also indicated a potential short-term recovery. However, the MACD level was -0.01174 and carried a sell signal.

Taken together, these readings do not provide strong confirmation that XRP has entered a new bullish trend. Instead, they indicate a market where short-term rebound signals exist but remain offset by negative momentum elsewhere.

Moving Averages Keep XRP Price Forecast Cautious

The moving-average structure was more clearly tilted toward sellers. Of the listed averages in the referenced analysis, 12 generated sell signals, one was neutral, and two were classified as buy.

XRP was trading around the 10-period averages, with the 10-day EMA at $1.07885 producing a sell signal and the 10-day SMA at $1.07848 producing a buy signal. The divergence at these short-term averages reflects the lack of a decisive move.

Further overhead, the 20-day EMA stood at $1.08794 and the 20-day SMA at $1.09374. The 30-day EMA and SMA were at $1.09665 and $1.09923, respectively. The 50-day EMA was higher at $1.12187, while the 50-day SMA was $1.10429.

Longer-term averages were considerably farther above the market. The 100-day EMA and SMA were at $1.20475 and $1.21617, while the 200-day EMA and SMA stood at $1.40025 and $1.35281.

These levels form a series of potential resistance zones if XRP continues to recover. The price would need to reclaim several averages in succession before the broader technical structure could be considered substantially improved.

The Ichimoku Base Line was at $1.10403 and remained neutral, while the Volume Weighted Moving Average stood at $1.09339 and generated a sell signal. The Hull Moving Average at $1.06362 was the notable short-term buy signal among the listed trend measures.

XRP Price Prediction: Key Support and Resistance Levels

Pivot calculations add further reference points to the current XRP price chart. The Classic pivot was positioned at $1.08807, placing the market close to the central equilibrium level in the referenced analysis.

Classic resistance levels were calculated at $1.15534, $1.25034 and $1.41261, while support levels stood at $0.99307, $0.92580 and $0.76353.

Fibonacci pivots produced a similar structure, with the central pivot again at $1.08807. Its first resistance was $1.15006, followed by $1.18835 and $1.25034. On the downside, the first three supports were $1.02608, $0.98779 and $0.92580.

Camarilla calculations placed nearby resistance around $1.07521 and support around $1.04547. The proximity of these levels reinforces the importance of the $1.045-$1.10 region for the near-term XRP price prediction.

A sustained move above $1.08807 could therefore improve short-term momentum, although stronger confirmation would come from a break through the $1.10-$1.12 resistance area. Conversely, a loss of the $1.045 region would put the lower pivot supports back into focus.

What the XRP Price Prediction Means for August

The technical evidence does not establish that XRP must fall in August. Instead, it shows that the token remains at a decision point where a recovery and a continuation of the broader correction are both possible.

The Elliott Wave interpretation is particularly relevant because it treats the current bounce as potentially corrective. That view is reinforced by the descending-channel structure and the concentration of moving-average resistance above the current price.

At the same time, the relatively neutral oscillator readings leave room for a recovery if buyers can generate sufficient momentum. TradingView’s more recent data shows XRP approaching $1.12 resistance, with a daily close above that level potentially targeting $1.16.

For the bearish case, failure around the $1.10-$1.12 area followed by a decisive break below $1.045 would provide stronger technical evidence that sellers are regaining control. The $0.99-$1.03 region would then become an important area to monitor based on the pivot framework.

The bullish case requires the opposite sequence. XRP would need to defend support, reclaim the descending trendline, and clear the $1.10-$1.12 resistance zone. A sustained move beyond that area would weaken the current bearish structure and shift attention toward $1.15-$1.16.

Finally, the XRP price prediction for August remains dependent on confirmation rather than any single indicator. The Elliott Wave count offers one interpretation of the current market structure, but price action around support, resistance, trendlines, and moving averages will determine whether that interpretation gains or loses relevance. Technical signals are historical measures and do not guarantee future price movements.