XRP to 'Jump' to $2 range in August?...Analyst warns of 'sharp drop after rise'

▲ XRP/ChatGPT generated image

A forecast has emerged that XRP could rise to the $2 range in August and then fall sharply. The analyst emphasized the possibility of a rise but warned against buying at the peak.

According to crypto media outlet CryptoBasic on August 3 (local time), crypto analyst Jay Nisbett analyzed that XRP is more likely to rise than fall in August. The forecast is that XRP will first move between $1.02 and the low $1.3s, then rise to the mid-to-high $1s or early $2s.

Nisbett did not expect the upward trend to last long. He predicted that XRP could quickly retract after reaching high price levels. He stated that he “almost blindly trusts” the price levels marked on the chart. However, he explained that it is more likely to move between various scenarios rather than strictly following one of the four paths presented.

The upper target for the bullish scenario is $2.5. In a conservative path, it could rise to approximately $1.6 before retreating to a support zone. Nisbett pointed out that individual investors looking to buy below $1 might miss an opportunity. He analyzed that if XRP rises from the mid-$1s to the $2s and then late buying surges, large investors could trigger a sharp drop.

Excessive leverage in the derivatives market has decreased. According to CryptoQuant, on July 31, Binance's XRP stablecoin margin futures open interest decreased to approximately $186 million. This is the lowest level since April 2025. Bybit recorded approximately $229 million, and OKX recorded approximately $49 million. Bybit and Binance accounted for about 89% of the open interest across the three exchanges.

A decrease in open interest means that there are fewer leveraged positions built up in the market than before. However, the direction of XRP cannot be determined solely by this indicator. It is explained that trading volume, funding rates, liquidation size, and spot demand should also be checked together.

[Key Article Summary]

-A forecast has emerged that XRP could rise to the mid-to-high $1s to early $2s in August.

-The upper target for the bullish scenario is $2.5, but the possibility of a sharp correction afterward was also raised.

-Binance's XRP futures open interest decreased to $186 million, easing leverage overheating.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*