XRP Price Outlook for August 17: Will Bulls Break Resistance or Face Another Rejection?

XRP teeters on a knife's edge as traders brace for a make-or-break price move.

Key levels to watch: Can the embattled token finally flip $0.55 into support, or will it get crushed under the weight of regulatory uncertainty (again)?

Meanwhile, Wall Street 'experts' still can't decide if crypto is dead or the next big thing—maybe hedge your bets with both predictions.

XRP is showing some mixed signals in the charts this week. On the weekly time frame, analysts are pointing to a bearish divergence. While XRP’s price has been making higher highs, the Relative Strength Index (RSI) is showing lower highs. This mismatch often means that momentum is weakening, even if the price continues to climb.

The last time XRP saw a similar bearish divergence was at the end of 2020 going into early 2021. Back then, the token faced a significant pullback over the following months. While history doesn’t always repeat itself, it does provide a strong warning that XRP could be due for a slowdown or correction in the coming weeks and months.

Short-Term Outlook

On the daily chart, XRP is currently moving sideways in a price range between $2.90 and $3.40. Analysts note that this structure looks very similar to what XRP experienced earlier this year around January and February. For now, XRP hasn’t shown any new bullish breakout patterns. A confirmed move above $3.40 WOULD be needed to suggest a stronger bullish trend.

Until that happens, traders should expect strong resistance between $3.35 and $3.40. On the downside, there is major support at around $2.90 to $3.00. If that range fails to hold, the next support levels to watch are $2.75 and then $2.55 to $2.62.

Immediate Price Action

In the short term, XRP may simply trade sideways. After the recent burst of volatility, it’s common for prices to settle and consolidate for a few days. That means XRP could hover between $3.00 and $3.20 in the immediate future while experts wait for clearer signals.

Bigger Picture

Overall, XRP’s chart shows potential weakness on longer time frames but neutrality in the short term. However, the important levels are clear: watch for a breakout above $3.40 for bullish confirmation, or a drop below $2.90 for signs of a deeper pullback. Until then, XRP may remain stuck in a choppy sideways pattern.