Brothers, Chen Ge is now bringing the latest market analysis for XRP

Currently, multiple bearish patterns are emerging in the technical aspect. The head and shoulders pattern on the 4-hour chart has broken down, with a breakdown of the neckline at 2.33 on August 13, targeting 2.00 (potential decline of 14%). The price is under pressure at 2.15 (previous support turned resistance), and the lack of rebound adds further downward pressure. The daily descending triangle has also broken down at 2.18 (50-day moving average), and attention should be paid to medium- and long-term adjustment risks. Moreover, the weekly top divergence (new price highs but declining RSI) is similar to the top formation of the 2017 bull market, with historical pullbacks often exceeding 50%; the daily RSI (42) has entered the bearish range, and the MACD death cross is expanding, indicating weak momentum.

On-chain data also appears bearish: large transfers have increased by 17% in the past 7 days, whale holdings have decreased by 0.8%, indicating signs of exit from major players; XRP has seen net inflow into exchanges for three consecutive days, with the weekly supply increasing by 3.1%, and selling intentions rising; it is also worth noting that daily active addresses have plummeted from 608,000 in March to 30,000 (-95%), with shrinking network activity potentially exacerbating price vulnerability.

In terms of operations, if it rebounds to around 2.988, consider shorting, with the initial target at 2.948 and further towards 2.889 if broken. Be sure to defend adequately, set stop-loss at a reasonable position, and while looking for opportunities, also leave enough buffer for market fluctuations #xrp