Family, recently the movements of XRP (Ripple) in the cryptocurrency market have been quite significant. Today, let's have a good chat about its market trends.

From a short-term perspective, XRP's performance is quite strong. Recently, the price has been surging upwards rapidly. There are a few key points in the technical indicators that warrant close attention. $3.15 is the short-term support level, and it happens to be the Fibonacci 23.6% retracement level. This position is crucial; if the price pulls back to this level, it is very likely to find support and then rebound. Now looking at the resistance levels, $3.40 - $3.42 is the key resistance range. If it can break through this range with volume, it would be extraordinary, and the price could quickly challenge $3.50 and $3.75.

From a medium to long-term perspective, XRP has significant potential. First, let's talk about regulation. The SEC will conclude its investigation into Ripple in March 2025, which is a massive positive news that lifts the long-standing regulatory cloud over XRP. Previously, many institutions were cautious about XRP due to regulatory issues, but now the barriers have been significantly lowered, greatly increasing the likelihood of institutions adopting XRP in the future, which would be a powerful driving force for price increases.

On-chain data also reveals some insights: whale addresses holding 100,000 - 1 million XRP increased their circulation by 0.67% in August, indicating that large holders are optimistic about XRP's future. Moreover, the on-chain trading volume surged by 36% this month, reflecting an increase in market attention and participation in XRP, which indirectly shows the willingness of large holders to position themselves.

Today, Brother Hao also provided an operational guide: consider going long around $3.2010 - $3.2350, with an initial target of $3.2950. If the market is strong, we can continue to look towards $3.3350.