Kraken Data Shows XRP Struggling Below Key Resistance – Can Bulls Regain Momentum?

As of August 7, 2025, XRP is facing significant resistance NEAR the $3.020 level, with its price currently hovering around $2.980. The digital asset has been consolidating in a tight range, but signs of bearish pressure are emerging. A bearish trend line has formed on the hourly XRP/USD chart, with Kraken data indicating strong resistance at this critical level. Traders are closely monitoring the 100-hourly Simple Moving Average for potential directional cues. If the $2.920 support fails to hold, XRP could see further downside. The bulls appear to be losing steam, and market participants are waiting to see if they can muster enough strength to break through the resistance or if a pullback is imminent.

XRP Price Trapped Below Resistance – Bulls Running Out of Steam?

XRP faces mounting pressure as it struggles to break through the $3.020 resistance level. The digital asset, currently trading near $2.980, shows signs of consolidation with potential downside risk if the $2.920 support fails to hold. Market participants watch the 100-hourly Simple Moving Average for directional cues.

A bearish trend line has emerged on the hourly XRP/USD chart, with Kraken data showing clear resistance at $3.020. The cryptocurrency tested the 50% Fibonacci retracement level after retreating from its $3.106 high, finding temporary support near $2.920. The $3.10 level remains critical for bulls to regain control.

Failure to maintain momentum above $2.880 could trigger further declines, while a decisive break above $3.10 might propel XRP toward $3.20. The asset's performance mirrors broader market trends, with Bitcoin and ethereum similarly encountering resistance at key psychological levels.

Solana (SOL) Eyes Upside Break as Price Tests Key Resistance

Solana's SOL has initiated a fresh bullish impulse after finding firm support near $162, mirroring broader market strength seen in Bitcoin and Ethereum. The asset now consolidates above $165, with technical indicators suggesting potential for further gains if critical resistance levels are breached.

A contracting triangle pattern on the hourly chart signals impending volatility, with $168 acting as immediate resistance. Market participants are watching the $172 level closely—a decisive close above this threshold could open the path toward $175. The 100-hour moving average provides dynamic support, while Fibonacci retracement levels from the recent swing high offer key reference points for traders.