Ripple (XRP)

XRP Price Correction Nears End as $2.78 Support Signals Bullish Reversal

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Key Takeaways:

  • XRP is testing key support at $2.78 amid Ichimoku Cloud confluence.
  • August 2–4 identified as high-probability reversal window.
  • Holding this zone could trigger a rebound toward $3.10 and $3.82.

XRP’s ongoing pullback might be in its final stage, as forecasted by technical analyst Dr Cat. Sharing insights via X (formerly Twitter), the analyst cited August 2–4 as the likely window for a price rebound, pegging $2.78 as the pivotal support level based on a 3-day Ichimoku Cloud analysis.

The Ichimoku system, which combines trend, momentum, and time cycles, revealed a confluence of support indicators aligning around that price and timeframe. As of August 4, XRP is trading near $2.89, having recently bounced off an intraday low of $2.80—within range of Dr Cat’s projected reversal zone.

Time Cycles and Cloud Support Strengthen the Case

Dr Cat’s chart highlights two key Ichimoku time cycles—42-bar and 33-bar—which converge between August 2 and 4. This rare alignment, combined with the proximity to $2.78 support, strengthens the probability of a short-term bounce.

Furthermore, XRP is holding above the Kumo Cloud on the daily chart—a region that typically offers dynamic support during bullish phases. As long as the token remains above this level, market structure suggests a recovery toward the $3.10 resistance zone could follow.

Upside Targets and Caution Zones

Should the $2.78–$2.80 region hold, XRP may attempt to reclaim the $3.10 level and eventually retest the $3.82 cycle high. However, failure to maintain this support could see the price retrace to $2.55.

Volume is also declining during this correction, a classic signal of potential selling exhaustion. While bullish signs are stacking up, traders are advised to remain cautious until confirmation of a reversal is in place.

XRP appears to be nearing a critical turning point. If Dr Cat’s Ichimoku-based forecast holds, the current dip may present the last major buying opportunity before XRP attempts another breakout.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

Also Read: XRP Price Surges 6% on Korean Trading Boom and SEC Settlement Hopes

Andrew Chen

I'm a crypto enthusiast with a background in finance. I'm fascinated by the potential of crypto to disrupt traditional financial systems. I'm always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.

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