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Analysis of cryptocurrency prices on July 31: ETH, XRP, ADA, BNB and HYPE

2026-08-01 00:39:38
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Ethereum (ETH)

This Friday, we will conduct an in-depth analysis of five cryptocurrencies: Ethereum, Ripple, Cardano, Binancin and Hyperliquid.

Ethereum's price was basically flat compared to last week as sellers 'resistance at $2000 stopped the rally and pushed the price correction. As of the time of publication of this article, ETH prices were approximately $1890, and the $1800 support level may be retested next.

Despite its recent recovery from US$1500, this cryptocurrency is still in a macro downward trend, showing significantly lower lows and lower highs. If buyers want to turn this around, they need to convert $2000 into support.

Looking to the future, Ethereum may consolidate between US$2000 and US$1800 until a clear breakthrough occurs. Bulls must also try their best to hold prices above $1800 to avoid hitting new lows.

Ripple (XRP)

XRP fell 3% this week and has just returned above the US$1 support level. This price trend also formed a flag-shaped pattern. Once assets break through this pattern, it may signal a continuation of the current trend. As things stand, this is a bearish signal.

Trading volumes also continued to decline and hit significantly lower lows. If buyers want to reverse the current downward trend, this is not an encouraging sign. A break below US$1 will clarify the direction and cause XRP to hit a new low, with US$0.80 being the key target.

Looking to the future, it is best to wait for the flag-shaped form to break through before re-evaluating. Until then, prices will compress at the tip of the pattern before breaking through.

Cardano (ADA)

ADA narrowly closed up the week, gaining only 2%. However, the support level of $0.15 has been reconfirmed and the cryptocurrency is expected to move towards $0.20. In the end, the resistance level of $0.23 must be regained to turn bullish.

Since the latest round of gains occurred under low trading volume, this shows that buyers are still cautious and need to see more gains to accumulate enough confidence and invest more in the order book.

Looking to the future, Cardano may be about to emerge from the difficult period in which prices fell from US$1.2 to US$0.14 between 2025 and 2026. To this end, ADA must stick above $0.15 and target $0.23 in the next step.

Binance (BNB)

Binance rose 4% this week after buyers successfully pushed it above the US$580 support level. As long as this key level is held, the bulls will have an advantage and they may next target the key resistance level of $690.

As of this article's publication, the current upward trend is still in its early stages and sellers may reverse this trend at any time. Therefore, it is best to wait for this breakthrough to be confirmed to avoid falling into the long trap.

Looking ahead, BNB may continue to consolidate between US$580 and US$690. If so, a break below $580 can be seen as a short-term deviation in price movement.

Hyperliquid(HYPE)

Similar to last week, HYPE again disappointed, with prices closing down and market value shrinking by 7%. However, what is even more worrying is that the cryptocurrency seems to have lost its upward trend.

The support level of $60 has now turned into resistance, and HYPE is steadily testing the next support level of $52. If these two levels fall one after another in a short period of time, it will be an extremely bearish signal, implying a sharp correction.

Looking ahead, it is becoming increasingly clear that Hyperliquid's heyday may be over, after prices peaked at around $76. Since then, it has fallen all the way. If $52 does not stop sellers, the next key support level will be $45.

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