Hello everyone, let's talk about the latest market analysis and trading strategy for XRP.

XRP has not stabilized above the resistance level of $3.09 recently and has been oscillating in the range of $2.84-$2.99, with sellers temporarily in control. The current price is around $2.90, down about 3.22% in the last 24 hours.

Key levels to watch: support first at $2.84 (recent low), then $2.72 (tested on August 23), and $2.50 is the psychological barrier and long-term dividing line; resistance is at $3.09 (opening price), and if broken, we could see $3.40 (recent high), and further up, $3.65 is the target for the symmetrical triangle breakout.

In terms of technical indicators: the RSI is currently 39, below the neutral line of 50, indicating that selling pressure has not yet been alleviated, but it is approaching the oversold area, which may trigger a rebound; the MACD is in the negative zone, with bearish momentum prevailing, so we need to watch for a potential golden cross. The 4-hour chart shows a symmetrical triangle convergence, and the breakout direction is still unclear.

In terms of market sentiment, short-term selling pressure mainly comes from profit-taking: total liquidations across the network in the last 24 hours reached $665 million (with long positions accounting for 75%), XRP investors locking in over $300 million in profits, and a net inflow of $76.8 million into exchanges (the peak since July 19), indicating significant selling pressure. Additionally, the hawkish signals from the Federal Reserve (maintaining interest rates in September) have boosted the dollar, which also suppresses XRP.

However, there are long-term highlights: whales are increasing their holdings, large on-chain addresses continue to accumulate, with single transactions often reaching hundreds of millions of XRP, indicating institutions recognize the medium to long-term value; the current price structure is highly similar to the bull market in 2017, and if the triangle breaks out, the target is $3.65 (up 20% from the current price).

Finally, regarding the trading strategy, it is recommended to go long, entering around $2.935-$2.905, with the first target at $2.995, and if broken, look for $3.055. Make sure to set a stop-loss to avoid holding the position at #Xrp🔥🔥 .