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XRP's $1 support line faced its first test in August. Despite a positive close in July, if the $1.02 level breaks, the possibility of retesting $1 opens up.
According to U.Today on August 2 (local time), XRP maintained its $1.02 support level throughout July. It recorded a monthly increase of 2.18%, marking its first successful monthly close with a gain since April. However, entering August, selling pressure is once again pressing the key support range between $1.02 and $1.06. In the past 24 hours, it has tested the $1.05 and $1.06 levels multiple times.
The market views the $1.02 support as a short-term turning point. If this price level breaks, it could fall to $1, which is considered a strong support line. XRP has not fallen below $1 since 2026. In the upward trend, $1.21, where the 50-week moving average is located, is the first resistance. $1.8, where the 200-week moving average is formed, has also been suggested as a major resistance line.
Apart from price movements, the XRP Ledger is set for major feature enhancements in August. Jazzi Cooper, RippleX Product Lead, announced that xrpld 3.3.0 will include five amendments. The new version is scheduled for release next week.
The amendments include Confidential MPT, which adds basic privacy features to multi-purpose tokens. Batch allows up to 8 transactions from different accounts to be processed simultaneously in a single ledger. Permission Delegation is designed to allow institutions to delegate limited transaction authority without relinquishing full signing authority.
Sponsored Fees and Reserves is a feature that allows banks, issuers, or platforms to pay transaction fees and reserves on behalf of other accounts. Dynamic MPT supports pre-specifying token attributes that can be modified in the future during the issuance phase. The key variables for XRP in August are the defense of the $1.02 support level and the introduction of five features to the XRP Ledger.
[Article Key Summary]
-XRP rose 2.18% in July, marking its first successful monthly close with a gain since April.
-If the $1.02 support level breaks, it could retest $1, with $1.21 and $1.8 suggested as major resistance levels.
-The XRP Ledger is set to introduce five amendments in August, including privacy and batch transaction processing.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*
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