A forecast has emerged that XRP could approach the $2 level in August, blockchain media outlet Decrypt reported on Sunday.

Crypto analyst Jay Nisbet (제이 니스벳) wrote on X, formerly Twitter, that XRP is more likely to move up than down this month. He said XRP is likely to trade between $1.02 and the low $1.30s through August, then could rise into the mid-to-high $1 range or the low $2s. He said the move into that range is unlikely to last long. He expects a quick pullback near the highs, followed by a resumption of a larger move.

XRP is trading around $1.07. It is down 1.0 percent over the past 24 hours, down 3.63 percent over the past week and down 5.78 percent over the past month. It is down 42 percent since the start of the year.

Nisbet laid out several price paths, but said the actual move is likely to form somewhere in between rather than follow any single path precisely. He said volatility could increase in both directions, but he weighted the overall direction to the bullish side.

Two scenarios stand out. In one, XRP rises to $2.50 and then undergoes a correction. In the other, it climbs more gradually to around $1.60 before slipping back into a support zone. Compared with the current price, each would represent a meaningful rebound, while also leaving room for a post-rally correction.

Nisbet also stressed his confidence in technical zones. He said that once he sets key price levels on a chart, he trusts them almost blindly. That means the key zone that will divide the monthly move is already set.

He also offered an assessment of market sentiment. Nisbet said many traders are waiting because they think the safest buying zone opens only if XRP falls back below $1. But he said that waiting could cause them to miss the opportunity. If XRP does not return to that level, investors could end up entering late only after it rises to the mid-$1 range or around $2.

He described this as "thinking like a market maker". He said markets often move first in the opposite direction of typical expectations among retail investors and then form a sustained trend. He also warned that after lagging buying sets in, big players can trigger a sharp correction to shake out investors who entered late.

Derivatives market indicators are showing a different mood from early this year. CryptoQuant data show XRP traders are using much lower leverage than during the strong rally in early 2025. As of July 31, Binance's XRP stablecoin-margined futures open interest was about $186 million, down to its lowest level since April 2025. At the same time, Bybit was about $229 million and OKX about $49 million.

Leverage trading is concentrated on Bybit and Binance. The two exchanges accounted for about 89 percent of total open interest across the three. A decline in open interest alone cannot determine the next price direction. Market participants generally need to look at funding rates, trading volume, liquidation size and spot demand together to judge overall conditions.

In this situation, XRP is likely to maintain high volatility throughout August. With expectations of a short-term rebound alongside the possibility of a sharp correction after a rise, the market is expected to watch whether support holds in the low $1 range and whether XRP attempts a breakout into the mid-to-high $1 range.

$XRP Don't ask me to explain my levels. But trust them. I do, almost blindly once I put them on the chart. I'm expecting volatility in August... both directions, but mainly to the upside. $1.02-$1.30s most likely. Potential breaks up to mid/high $1-2 range. I'd expect this to… https://t.co/sCVHsUixPw pic.twitter.com/HLDPVMvxtj