Crypto Market Update August 2: Bitcoin, Ethereum, XRP Stall Ahead of Another Busy Earnings Week

The crypto market shows a mixed outlook today, August 2, with some crypto coins edging higher, while others are dropping. Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are up slightly as traders brace for another week where two crypto companies, Mara Holdings (NASDAQ: MARA) and Circle (NYSE: CRCL), will report earnings.

Crypto Market Braces for Another Earnings Week

Bitcoin price is up by 0.72% today, August 2, to trade at $63,460 at the time of writing. Ethereum price has also gained by 0.45% to trade at $1,870.

XRP is the biggest gainer among the top ten largest cryptos by market cap, having increased by 1.49% to trade at $1.08.

But not all the top ten cryptos are trading in the green, with BNB and Dogecoin dropping by 1.19% and 0.12%, respectively.

The mixed outlook comes after Coinbase and Strategy released their earnings on July 30, a move that led to the crypto market dropping slightly after the two companies reported making net losses during the quarter.

Circle will release its Q2 2026 earnings on August 4, and Wall Street expects the company to report earnings per share of $0.18, with this being an 82% drop from what was seen in Q2 2025. Mara Holdings is also expected to report a loss per share of between -$0.33 and -$0.56.

The crypto market sentiment also remains at 27 ahead of these earnings, suggesting that the market is in a state of fear. The sentiment has remained at 27 for two days. Still, this is a rise from the value of 21 that this index dropped to last month.

If these upcoming earnings fail to meet expectations, the market sentiment could tank again into the extreme fear territory.

Bitcoin Price Defends Key Support as Bearish Pressure Fades

Bitcoin price has created a rounded bottom pattern on the four-hour chart. The support of this pattern is at $62,518.

BTC has closed above this support with two green candles, suggesting that $62,518 is the price at which some crypto market traders scooped more coins during the recent dip caused by escalating geopolitical tensions.

The AO bars that are green and shrinking in length also support a bullish long-term Bitcoin price prediction. The bars suggest that bears are losing their grip, creating room for buying pressure to push the price higher.

The RSI line that is tipping north also suggests that the bearish momentum is becoming weak, and this could allow Bitcoin price to gain.

Ethereum Price Stalls Near $1,800 as Uptrend Weakens

The price of Ethereum has failed to close above the resistance of $1,900 for three straight days. It has failed to move above this resistance because of weak buying pressure, as buyers remain on the sidelines due to geopolitical concerns that are weighing on the crypto market.

The ADX line that is dropping suggests that the long-term Ethereum price forecast is bearish because the trend is becoming weak. It suggests that the buyers who helped push the price from $1,500 to $1,900 are leaving the market.

If these buyers come back, ETH price could reach the psychological resistance of $2,000. If it closes above this psychological price, Ethereum could reach the 200-day EMA of $2,163.

But an increase in selling pressure could push Ethereum below the support of $1,800 to the June 26 low of $1,500.

XRP Price Creates a Bullish W Pattern Despite Crypto Market Weakness

The price of XRP is trading within a double bottom pattern. When this pattern appears, it suggests that the bulls are tightening their grip on the coin.

This double bottom has a height of 4.39%, and this is how high the price of XRP could go if it closes above the resistance of $1.09.

XRP has also moved above the 50-day EMA of $1.08, suggesting that the short-term outlook for XRP is now bullish, as the coin outperforms the broader crypto market today, August 2.

The RSI reading of 56 also suggests that the XRP price forecast is bullish. The line that is also tipping north shows that buying pressure is rising, and this could support more gains for XRP.