XRP is leading gains among the top ten cryptocurrencies on August 2, climbing while Bitcoin and Ethereum post smaller advances. The moves come as traders brace for earnings from Circle and Mara Holdings this week, with crypto market sentiment still stuck in fear territory.
The crypto market is off to a mixed start on August 2, with XRP outperforming Bitcoin and Ethereum as traders brace for a heavy earnings week. Two crypto-linked companies report results in the coming days, with sentiment already sitting at depressed levels.
XRP has climbed 1.49% to trade at $1.08, the biggest gain among the top ten coins by market cap today. Bitcoin and Ethereum posted smaller advances: Bitcoin rose 0.72% to $63,460, while Ethereum added 0.45% to reach $1,870. Not every major coin joined the move — BNB fell 1.19% and Dogecoin slipped 0.12%.
Circle and Mara Earnings Loom Over the Market
Circle releases its second-quarter 2026 earnings on August 4, and Wall Street expects the company to report earnings per share of $0.18, an 82% drop from Q2 2025. Mara Holdings is expected to report a loss per share of between -$0.33 and -$0.56 for the same quarter. The reports follow Coinbase and Strategy's July 30 earnings, when both companies posted net losses that pulled crypto prices down slightly.
Because of this, the market's Fear and Greed Index has held at 27 for two days, still in fear territory but up from 21 last month. A disappointing earnings week could send sentiment back toward extreme fear.
Bitcoin Defends Support Near $62,518
Bitcoin has formed a rounded bottom pattern on its four-hour chart, with support at $62,518. The coin has closed above that level on two green candles, suggesting some traders bought the dip caused by escalating geopolitical tensions. Shrinking green AO bars and a rising RSI line suggest bearish momentum is fading, which could open room for further gains.
Ethereum Stalls Below $1,900
Ethereum, however, has failed to close above resistance at $1,900 for three straight days, as geopolitical concerns keep buyers on the sidelines. A dropping ADX line suggests the long-term trend is turning weak, with the buyers who pushed the price from $1,500 to $1,900 now leaving the market. If buying pressure returns, Ethereum could reach the psychological level of $2,000 and then its 200-day EMA of $2,163; renewed selling could send it back toward the June 26 low of $1,500.
XRP Builds a Bullish W Pattern
XRP is trading within a double bottom pattern with a height of 4.39%, the potential gain if the coin closes above resistance at $1.09. The coin has moved above its 50-day EMA of $1.08, and an RSI reading of 56 points to rising buying pressure. That combination suggests XRP's short-term outlook is turning bullish even as the wider crypto market stays weak.
Source: CoinGape
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