Analysis of XRP on 8.18
In the four-hour chart of XRP, it can be seen that the current trend is in the early stage of an inverted head and shoulders pattern, and the large-scale reversal structure remains valid. In the short term, the price has found support around 2.97, and the small-scale reversal breakout point is worth paying close attention to. If it can break through the hourly level short-term resistance at 3.15, it is expected to open up upward space and continue the upward trend.
In terms of operations: A light long position can be arranged in the 2.95—3.0 range, with additional positions confirmed after breaking 3.15. The upper targets are sequentially aimed at 3.35 and the previous high of 3.66
