Summary: XRP Price Prediction for August 4

XRP has demonstrated a notable resurgence at the week's onset, recording a significant 6.67% surge over the last 24 hours. This impressive upward momentum saw the cryptocurrency break past a key local resistance level at $3.0312. While the immediate potential for sharp, continued price movements might be limited given that much of the daily Average True Range (ATR) has already been covered, market analysts are keenly watching the closing candle. A strong close, devoid of a long wick, could signal a sustained upward trajectory, potentially pushing XRP towards the $3.10 mark in the very short term. Looking beyond the hourly fluctuations, XRP appears to be establishing a local bottom, suggesting a period of consolidation may be underway. While bulls have made their presence felt, they may require additional time to gather the necessary momentum for a substantial, continued ascent. During this accumulation phase, sideways trading within the range of $3 to $3.15 is considered the most probable scenario. This consolidation could precede a more robust price discovery as market participants evaluate the asset's next major move. From a midterm perspective, the $3 threshold remains a critical focal point for traders. Should the weekly trading bar successfully close above this level, it would lend considerable support to the bullish sentiment, potentially paving the way for further growth into the $3.20 range. At press time, XRP is trading around $3.0670, reflecting the ongoing battle between buying and selling pressures as the asset seeks to solidify its recent gains and establish a clearer directional trend for the coming period.