Kraken Market Watch: XRP Bulls Defend Critical $3.00 Support Amid Mixed Signals

As of August 6, 2025, XRP's price action has become a focal point for traders on Kraken and other exchanges. The digital asset recently showcased remarkable strength, surging 30% and outperforming both Bitcoin and ethereum during its upward trajectory. This bullish momentum propelled XRP past several key resistance levels, including the psychologically important $3.00 barrier, before peaking at $3.106. However, the rally has since stalled near the $3.10 resistance level, causing some concern among market participants. Technical analysis presents a mixed picture: while XRP maintains its position above crucial indicators like the 100-hour moving average and a significant Fibonacci level, the breach below a bullish trendline at $3.065 suggests potential weakness. This development on Kraken's platform highlights the ongoing battle between bulls and bears, with the $3.00 support level emerging as critical for determining XRP's next major move. Traders are closely monitoring whether this support will hold, as a sustained break below could signal deeper correction, while a rebound might reignite the bullish momentum that previously distinguished XRP's performance in the crypto market.

XRP Price Prediction: Bulls Test Key Support at $3.00

XRP's recent 30% surge has stalled near the $3.10 resistance level, sparking concerns among traders. The cryptocurrency outperformed Bitcoin and Ethereum during its ascent, clearing multiple hurdles including the psychological $3.00 barrier before peaking at $3.106.

Technical indicators show mixed signals. While XRP maintains above the 100-hour moving average and key Fibonacci level, the break below a bullish trendline at $3.065 suggests weakening momentum. Market participants now watch whether bulls can defend the $3.00 support or if further correction looms.

The Kraken hourly chart reveals critical structure: holding above $3.00 keeps the uptrend intact, but failure to reclaim $3.10 resistance may invite deeper retracement. Trading volume and order book depth at these levels will determine XRP's next directional move.

Satsuma Technology Raises $217.6M in Bitcoin-Backed Funding Round

UK-based Satsuma Technology has secured $217.6 million in a convertible notes round, with notable participation from investors such as ParaFi and Kraken. The company opted to receive the entire investment in Bitcoin, totaling 1,097.29 BTC.

This decision underscores a broader trend of institutional confidence in cryptocurrency as a viable medium for fundraising. By embracing Bitcoin, Satsuma sets a precedent for tech investment in the UK, signaling a shift toward digital asset adoption in traditional finance.