Overview

• XRP has fallen approximately 17% from its mid-July peak and is trading near $2.99 after breaching local bear market territory.
• The MVRV ratio has formed a death cross while trading volume has declined by over 23%, pointing to increased downside risk toward a $2.50 support level.
• Chart patterns, including a bearish inverted cup and handle, reinforce analyst targets near $2.60 and a broader buy zone between $2.40 and $2.60 for potential accumulation.
• On-chain data shows significant accumulation, with more than $88 million worth of XRP leaving exchanges in 48 hours and a record 1.35 billion XRP processed in daily payments.
• Market participants are focused on the Aug. 15 joint status report in the SEC’s Ripple appeal as the next catalyst for regulatory clarity.