XRP is once again at a turning point after weeks of turbulence that saw it lose its spot as the third-largest cryptocurrency by market capitalization.

Analysts are closely watching whether Ripple’s native token can reclaim bullish momentum, with some pointing to a potential move toward $2.92 as the next key inflection point.

Analysts Split as XRP Tests Support

On August 31, trader CrediBULL Crypto told followers on X that if XRP’s recent lows remain firm, a move toward the $2.92 swing high is plausible. However, this zone is also identified as a likely area for a price rejection. “Clear that, and we have a full-on reversal on our hands,” CrediBULL said.

Hours later, he noted he had exited his position, citing concerns of downside liquidity hunting due to Ethereum weakness. This cautious outlook was reflected in recent trading, as XRP’s value fell to $2.73 on August 30, a low not seen since the start of that month.

Meanwhile, another community figure, CryptoBull, projected a far more ambitious target of $7–$8 on a monthly chart pattern.

These predictions come against a backdrop of mixed developments for XRP. As CryptoPotato recently reported, the XRP Ledger finished Q2 2025 with a record $131.6 million in tokenized real-world assets (RWAs), with contributions from major firms like Guggenheim and Ondo.

Ripple’s RLUSD stablecoin also grew nearly 50% quarter-on-quarter, becoming the network’s largest dollar-pegged asset. However, daily transactions and active addresses fell sharply, reflecting a short-term decline in engagement.

Adding fuel to speculation, former U.S. Senate candidate John E. Deaton has said that ETF inflows could “surprise many” once the SEC approves XRP-based products. With at least 15 active filings, including Amplify ETFs’ application for a Monthly Option Income product, the possibility of fresh institutional exposure has strengthened community optimism.

Market Outlook

XRP has struggled to maintain its footing since peaking at $3.65 on July 18. Data from CoinGecko shows the token changing hands at $2.72 at the time of this writing.

It means the asset is down 4% in the last 24 hours and 9.1% over the week. In that time, XRP has swung between $2.72 and $3.05, underlining persistent volatility.

The monthly picture is also just as weak, with a 9.7% drop. However, the token is still up 386% year-on-year.

And while its 24-hour trading volume remains strong at $4.78 billion, its market cap has slipped to $162.4 billion, placing it behind Tether’s USDT, which recently overtook it for the number 3 spot.