XRP (XRP) Price: Trading at $2.90 After Recovery From $2.75 Dip

TLDR

• XRP is trading at $2.90 after recovering from a dip to $2.75
• Analysts identify $3.12 as the key breakout level needed for upward momentum
• Support level at $2.85 remains strong with $2.75 acting as secondary support
• Trading volume surged 27.69% to $10.37 billion, showing increased market interest
• Ripple CTO David Schwartz plans to set up a personal XRPL server for network testing

XRP is showing resilience in the current market, trading at $2.90 after recovering from a brief dip to $2.75 earlier today. The price movement has caught the attention of traders and analysts who are closely monitoring key support and resistance levels that could determine the cryptocurrency’s next direction.

The price recovery represents a 5% increase from the day’s low, placing XRP back in focus for many market participants. The dip created a sharp wick on the two-month chart, triggering varied reactions across the trading community.

Some traders viewed the wick as a sign of market weakness, while others interpreted it as part of a larger pattern formation. Experienced analysts have urged newer traders not to panic over such price movements without considering the broader market context.

According to analyst ‘EGRAG CRYPTO’, the recent price action might be building one of XRP’s strongest candle structures in years. He stressed that quick price movements can be misleading when viewed in isolation rather than as part of the overall market picture.

#XRP :

1️⃣$3.03 has to hold on 3 day time frame
2️⃣$3.12 should be next
3️⃣$3.30 should hold as support to start looking for New ATH https://t.co/O0rBm2wZYA pic.twitter.com/JbkGXqJ6V4

— EGRAG CRYPTO (@egragcrypto) August 4, 2025

The current price sits between established support at $2.85 and resistance at $3.12, with traders watching these levels closely for hints about future movement.

Key Resistance at $3.12

The $3.12 mark has emerged as the most critical level for XRP’s near-term prospects. Multiple analysts agree that a successful close above this resistance would be essential for XRP to regain upward momentum.

Without breaking through this barrier, XRP could face additional downward pressure, potentially leading to more short-term dips. Such movements often trigger selling pressure among newer traders, which can create buying opportunities for larger market participants.

The support near $2.85 has held firm so far, with many technical analysts keeping a close eye on this threshold. If this support breaks, XRP might experience further downside before attempting another rally. However, if it holds, it could serve as a foundation for the next push upward.

Another analyst, Dark Defender, noted that XRP touched the $2.8558 level, which he had forecast days earlier. He described this as the “fourth wave dip” in the price pattern, suggesting it was an expected movement within a larger structure.

Trading Volume Surge

Adding strength to the bullish outlook is a significant increase in market activity. Data from Coinglass shows that XRP trading volume jumped by 27.69% to $10.37 billion. Meanwhile, open interest rose by 4.88% to $7.51 billion.

This surge in trading activity points to growing interest in the asset, potentially supporting a bullish move. The increased market participation comes at a crucial time as XRP tests key technical levels.

XRP Price on CoinGecko

Many traders see the current price action as a necessary correction that has created an opportunity for recovery. A successful breakout above the $3.12-$3.21 resistance zone could confirm the end of the correction phase and open the door to higher targets.

Some analysts have identified potential targets between $4.60 and $4.80 if XRP manages to break above current resistance levels. The psychological $4.00 mark would also represent a major milestone for the cryptocurrency as it works to regain its bullish position.

Despite recent price fluctuations, the overall structure remains intact. The low point at $2.75 sits above the previous wave high at $2.65, which preserves the larger bullish trend.

Ripple CTO’s XRPL Plans

Beyond price movements, Ripple’s Chief Technology Officer David Schwartz recently shared plans to establish a personal high-speed server to support the XRP Ledger network.

Schwartz clarified that this server would not be part of Ripple’s official operations but would instead serve as a tool for gathering data and testing performance. The server will run on robust hardware in a New York data center and will have additional capacity for validators and other network services.

The Ripple CTO emphasized that the XRP Ledger is designed to remain decentralized, and his project would support this goal without causing disruption to the network. He also stressed that no single server should become a central component of the network.

For now, XRP appears to be holding its ground as traders await the next significant price move. The key question remains: can XRP break above the critical $3.12 resistance level and continue its upward trend?