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Can XRP Hit $5 in August?
Recent market trends suggest a strong possibility of XRP hitting the $5 mark by the end of August. This prediction is backed by several technical and fundamental signals that are aligning with a bullish scenario.
According to CryptoGoos, a four-hour chart analysis reveals that XRP has been setting up for a breakout toward the $5 level. The chart shows the token emerging from a prolonged downtrend and consolidating above major technical support levels that could sustain a sharp upward move. This setup is particularly interesting as it indicates a potential “max buy volume” zone formed in late June, which marks a potential accumulation area.
Furthermore, another analysis from CryptoGoos points out that XRP advanced to a local peak in what the analyst described as a “liquidity grab,” where the price briefly pierced resistance to trigger stop orders and attract fresh long positions before reversing. The subsequent pullback stabilized near the 0.382 Fibonacci level, reinforcing it as a short-term demand zone.
The projection outlines a potential two-stage move: an initial rally toward the previous liquidity grab zone (point A), followed by a controlled retracement (point B) and then another continuation toward $5.
A separate analysis from TheFlashTrading also projects XRP’s path toward $5, using a weekly timeframe on Binance’s XRP/USDT pair. This chart shows that XRP broke out of an extended descending channel after retesting a multi-year support zone between $1.50 and $2.00.
Source: coinchapter.com
