$XRP consolidates near $3.35 – Breakout to 1.618 extension or deeper correction ahead?
1. Yesterday’s Recap – August 8, 2025
1H timeframe:
Yesterday, $XRP moved within the $3.30 – $3.36 range, finding strong support near $3.28. RSI stayed between 54–56, indicating a slight bullish bias. MACD remained in positive territory but lacked strong momentum. Volume was moderate, with a slight increase in the afternoon during an attempt to break above $3.36.
4H timeframe:
On the 4-hour chart, the price remained above $3.28 (Fibonacci 38.2% from the last upward wave). RSI was around 61, and MACD stayed bullish. Volume picked up during tests of $3.36, signaling this level as a key resistance.
Fibonacci levels (3.20 → 3.40 USD):
38.2% – $3.28 (local support)
50% – $3.30 (equilibrium zone)
61.8% – $3.32 (deeper support)
1.618 extension – $3.48 (breakout target)
2. Current Market Situation – August 9, 2025
1H timeframe:
$XRP currently trading around $3.35, once again approaching the $3.36 resistance. RSI is at 58, while MACD remains positive. Hourly volume is slightly higher than yesterday, hinting at increasing breakout pressure.
4H timeframe:
The price is still holding above $3.32, with RSI climbing to 63. MACD confirms the upward momentum. Volume remains steady, with a mild increase as price nears resistance.
3. Market Outlook
Bullish scenario: A breakout above $3.36 with rising volume could open the path towards $3.48 (Fibonacci 1.618).
Bearish scenario: A drop below $3.32 may lead to a retest of $3.30 or even $3.28.
4. LONG Setup
Entry: $3.37
Stop Loss: $3.32
TP1: $3.40 (local resistance)
TP2: $3.45 (before 1.618 ext)
TP3: $3.48 (Fibonacci 1.618)
5. SHORT Setup
Entry: < $3.32
Stop Loss: $3.36
TP1: $3.30 (Fibonacci 50%)
TP2: $3.28 (Fibonacci 38.2%)
TP3: $3.25 (lower support from previous consolidation)
#XRPUSDC #CandleTimes #FibonacciLevels #CryptoTrading #VolumeAnalysis
