XRP Must Close August Above $3.3 to Confirm Bullish Breakout: Here’s Why

• XRP has slipped below $3 after a failed attempt to hold the $3.35 level.
• Analyst EGRAG says the token must end August above $3.3 to validate its long-term double bottom breakout. 
• A close could help XRP surge to a range of $7 to $28 in September.

XRP traders are watching a critical price level as the month winds down, with analysts warning that only a close above $3.3 in August could trigger the next major upside.

After briefly reclaiming a $3.35 high in August, XRP slipped into a downward spiral. The asset lost nearly 6% today, falling to $2.88, bridging its weekly performance to negative 11%.

Key Resistance for August

Meanwhile, analyst EGRAG stressed that the token must close August above $3.3 to keep its broader bullish structure intact. He pointed to XRP’s breakout from a double bottom (W) formation on the monthly chart.

Notably, this double bottom dates back several years. First bottom formed after a sharp fall from $3.84 in January 2018 to $0.1050 in March 2020, followed by a rebound to $1.96 in April 2021.

The second bottom appeared after another slide to $0.2879 in June 2022, which later recovered above $2 by December 2024.

The br…

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