Kraken Observes XRP’s Recovery Attempt: Is a Bullish Reversal on the Horizon?

XRP price is showing tentative signs of recovery after a recent dip below the $3.20 support level. The cryptocurrency has managed to break above the $3.120 resistance trend line on the hourly chart, hinting at potential upward momentum. However, it still trades below the $3.20 psychological level and the 100-hourly SMA, indicating lingering bearish pressure. The recovery follows a 76.4% retracement of the recent swing from $3.004 to $3.330, with market observers noting XRP's underperformance relative to other major cryptocurrencies. As of July 30, 2025, traders on Kraken and other exchanges are closely watching for confirmation of a sustained bullish reversal.

XRP Price Starts Recovery Move – Will It Lead to a Bullish Reversal?

XRP price shows tentative signs of recovery after dipping below the $3.20 support level. A break above the $3.120 resistance trend line on the hourly chart suggests potential for upward momentum, though the token still trades below both the $3.20 psychological level and the 100-hourly SMA.

The recovery attempt follows a 76.4% retracement of the recent swing from $3.004 to $3.330. Market observers note XRP's underperformance compared to Bitcoin and ethereum during this correction phase. The $3.080 level now serves as critical support, with resistance expected near $3.170 before a possible retest of $3.20.

Kraken Eyes $15 Billion IPO Amid Favorable Regulatory Climate

Kraken, the US-based cryptocurrency exchange, is positioning itself for a Wall Street debut with a targeted $15 billion valuation. The MOVE follows Circle's recent public listing and signals growing institutional confidence in digital asset firms.

Market observers anticipated this development after Kraken's cryptic 'KRAK the World' social media post in May 2025. The exchange now seeks to raise $500 million in funding, capitalizing on improved regulatory conditions under the TRUMP administration.

Bloomberg reports suggest a potential 2026 listing timeline. This IPO wave reflects maturing infrastructure within crypto markets, with established exchanges transitioning toward traditional finance frameworks.