Detailed Technical Analysis for XRP (as of August 7, 2025)

1. Long-term Trend Analysis

a) Price Action/Trend

• From May through late June, XRP traded mostly between $2.10 and $2.35, forming a wide and relatively stable accumulation range, punctuated by some false breakouts to the downside.
• In early/mid-July, a breakout occurred, with an explosive rally beginning July 9/10 and prices running from ~$2.40 up to ~$3.55 by July 21. This marks a near 50% rally in less than two weeks, suggesting a regime shift driven by increasing demand/positive news.
• After the peak at $3.64, a correction phase emerged, with a sharp drop to the $3.14–$3.18 area, after which XRP consolidated, ranging with lower highs and higher lows—a probable symmetrical triangle.
• These consolidation phases have resolved upward, pushing XRP back to its current levels, just above $3.10.

b) Volume

• Volume spiked dramatically during the breakout/run-up (July 9–21), confirming the bullish move. Post-local-high, volume subsided slightly but remains markedly above pre-breakout averages — a sign of sustained interest, not capitulation.
• Most recent hourly candles show intermittent large volume spikes on up candles (>400M), implying persistent buying.

2. Medium-term (June–August) Technical Indicators

a) Moving Averages

• The 50-day moving average (estimated, as we can extract from recent daily closes) sits well below current price (~$3.10); momentum remains bullish as price is well above major MAs. No signs of a death cross; golden cross from earlier still in force.
• The 9-day and 21-day EMAs would have recently served as dynamic support, especially during retests in late July, with bounces off these levels.

b) Relative Strength Index (RSI)

• The ramp-up and steep ascent in July likely pushed RSI into overbought (>70); recent consolidation and the drop toward $3.02–$3.05 likely brought it back to neutral (~55–60). This suggests some, but not total, reset — price is still relatively strong.

c) MACD

• MACD should still be in bullish territory, with the MACD line above the signal line, although the gap may have narrowed during the recent correction; a new bullish crossover may be in formation, given the renewed upward momentum.

3. Short-term (24-hour) Chart Analysis

a) Hourly Structure (Aug 6–Aug 7)

• Clear breakout in the 10:00 and 20:00 UTC candles, both on high volume.
• Hourly lows remain sequentially higher: $2.97, $3.02, $3.07, $3.08.
• The $3.05–$3.08 region has acted as both resistance and, most recently, support. The latest 21:00 UTC candle prints $3.1083, the session's close and matching the high, indicating strong demand closing into strength.

b) Pattern Recognition

• A bullish continuation flag/triangle is evident after the sharp July run-up, which appears to have just broken to the upside — a classic continuation bullish pattern.
• No double-top or reversal pattern is visible; price is not showing exhaustion signals yet.

c) Support & Resistance

• Immediate resistance: $3.11–$3.15 (current level), then $3.18 and $3.25 (local July peaks at $3.17, $3.24).
• Major support: $3.05 (confluence of recent highs and lows), then $3.02 (post-breakdown retest, now bullish flip zone), then much lower at $2.96–$2.98.

4. Order Flow, Momentum, Market Sentiment

• Depth-of-market analysis (price ending on session highs, with large candles closing at/just below highs, plus above-average volume spikes): buying aggression is clear.
• Crowd psychology after the recent rally and subsequent healthy correction favors FOMO-style continuation moves, especially with Bitcoin/Ethereum likely strong in this broader period (contextual assumption for crypto cycles).

5. Fibonacci Levels (from July 9 swing low ~$2.30 to July 21 swing high ~$3.64)

• 38.2% retracement: ~$3.10 (current price!)
• 50.0% retracement: ~$2.97 (recent test and bounce)
• 61.8% retracement: ~$2.84

Over the last days, XRP respected the 38.2% Fibonacci level as support. This is usually a bull flag area, particularly if price launches from here, as is the case now.

6. Elliott Wave Perspective

• Recent price sequence could count as Wave 1: rally ($2.30 → $3.64), Wave 2: correction ($3.64 → $3.02), with a potential Wave 3 (usually largest) in its infancy, sparked by the breakout above $3.08.
• If so, upside potential is high – AT LEAST matching the length of Wave 1.

7. Volatility Analysis

• After the July rally, there was an extended volatility contraction phase (late July/early August), usually preceding a strong directional move. Volatility has just re-expanded to the upside.

8. Risk Management & Stop Placement

• Downside risk is defined by the $3.02 zone (former resistance, now support).
• A close below $2.98 would invalidate the bullish scenario in the short term.

9. Prediction (Next 24 Hours)

• High probability of a drive higher from current levels as the pattern resolves and momentum continues.
• Target range: $3.18 (first minor resistance), $3.25 (bigger resistance from July peaks), with potential extension to $3.40 if momentum persists.

10. Strategy & Order Placement

• Optimal entry is as close to $3.10 as possible (the 38.2% Fibonacci, just triggered breakout).
• Target is $3.24–$3.27, with potential wick to $3.40.
• Stop loss or risk trigger beneath $3.03 (failed breakout scenario).

Conclusion: All signals—from moving averages to pattern breakouts, volume and momentum—are aligned for a continued bullish leg, supported by healthy consolidation and strong market participation. There is a high-probability long setup for XRP in the coming 24 hours.

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Recommendation: "Buy (Long Position)"

• Open/Buy Price: $3.108
• Target/Sell Price: $3.245