XRP Price Today: XRP Breaks $3.20, Recovers 2% Loss as Analyst Eyes Third Breakout by September 1

XRP price today is showing resilience as the token rebounds toward the $3.20 mark, recovering from a recent 2% dip amid continued market volatility.

The cryptocurrency’s price action is drawing significant attention, with a notable analyst predicting a third consecutive breakout could be on the horizon by September 1. This development comes after Ripple Labs and the SEC settled their long-running legal dispute, which has already influenced XRP’s trading volumes and investor sentiment.

Market Overview: XRP Price Holds Support After Profit-Taking

After rallying to an intraday high of $3.32, XRP retreated to around $3.14 in the 24 hours ending August 12, reflecting profit-taking and institutional selling pressure. Despite this pullback, XRP’s support at $3.13 has remained intact after multiple successful tests. Resistance has formed near $3.27, establishing a well-defined near-term trading range.

XRP was trading at around $3.23, up 1.32% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

Volume patterns during the late trading hours suggest renewed dip-buying interest, indicating that buyers are stepping in around key support levels. Trading volume surged by 208% to $12.4 billion following the Ripple-SEC settlement, underscoring heightened market activity.

Technical Analysis: Nine-Month Cup and Handle Pattern Nears Breakout

Prominent cryptocurrency analyst Patrick L. Riley has highlighted a textbook cup and handle formation developing over the past nine months on XRP’s price chart. This classic bullish pattern features a rounded bottom followed by a consolidation phase, setting the stage for a potential breakout.

An analyst projects XRP could see a third consecutive breakout by September 1 as a nine-month cup-and-handle pattern nears completion. Source: Patrick Riley via X

Riley’s forecast depends on XRP closing decisively above the $3.30–$3.40 resistance zone with strong volume, which would validate the pattern and likely trigger a fresh rally.

Ripple’s Network and Legal Developments Bolster Confidence

XRP’s technical momentum has deeper fundamental catalysts supporting it. Ripple’s ongoing development of the XRP Ledger and increasing adoption of its payment solutions by businesses are strengthening network activity and developer traction. In addition, the recent conclusion of the Ripple vs. SEC lawsuit has removed a major source of uncertainty, allowing price action to follow technical trends more purely.

Indicators such as increasing lows, relative strength positivity, and moving average alignments justify a bullish bias for XRP. These technical pointers reflect the prior breakout phases in 2025, contributing to Riley’s prediction.

Price Outlook: Potential Rally Targets and Dangers

Historic price cycles of XRP suggest that a confirmed breakout above $3.40 could unveil near-term targets of $4 to $5. More aggressive scenarios envision even more upside should momentum continue.

XRP’s potential for a $4 breakout remains intact as long as the price holds above the $3 support. Source: Joeyscryptoventures on TradingView

However, investors must be cautious as well because failed breakouts or a negative macroeconomic turn could lead to further consolidation. Traders will be watching for a confirmed daily or weekly close above the neckline of the cup and handle, ideally with decent volume to support the move.

Looking Ahead: XRP Set for a Moment of Truth in 2025

The current price of XRP is in a market limbo, torn between stable support and critical resistance. A call by analyst Patrick L. Riley for a third breakout by Sept. 1 is founded on a familiar technical pattern underpinned by improving fundamentals and legal certainty.

Should this breakout materialize, XRP could experience one of its strongest rallies of the year, making the coming weeks essential for traders and investors monitoring the XRP price prediction 2025.