XRP is at a crucial juncture, with its price at $3.00, following a 6.4% drop amid unfavorable inflation data. Traders on Myriad predict a 63.7% chance that XRP will rise to $4 (moon scenario), while 36.3% forecast a drop to $2 or below (doom scenario). The Relative Strength Index (RSI) sits at 48, indicating market equilibrium, while the Average Directional Index (ADX) at 28 suggests a strong trend. The bullish momentum is supported by the 50-day exponential moving average remaining above the 200-day EMA, suggesting continued upward movement. However, large whale distributions, which increased significantly in July, raise concerns about a potential price correction. The recent resolution of legal conflicts between Ripple and the SEC, combined with a high probability of a spot XRP ETF approval, could sway XRP’s direction significantly. While the technical indicators lean towards a bullish outlook, caution remains essential, especially if the price dips below the $2.80 support.

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