XRP Evening Watch: Sideways Trading Holds Uncertainties, Watch for a Rebound Before Arranging a Short Position

Tonight's XRP market can best be described as "holding back a big move." The EMA7 and EMA30 moving averages are currently stuck at 2.83. Over the past 10 days, the price has remained almost flat, and volatility has been compressed to the limit, waiting for an opportunity to break the deadlock.

Looking at the technical side, the signals also suggest the "calm before the storm." All three MACD lines have returned to 0, and trading volume is over 40% below its 10-day average. Market activity is low, and both bulls and bears are holding back. The RSI indicator shows some slight divergence, with the short-term chart reaching 67, indicating a slight overbought trend, while the long-term chart remains in the neutral range of 53. This suggests a slight short-term momentum, but the overall trend remains stagnant and could swing in either direction at any moment.

However, market trends must be considered in conjunction with news. The postponement of the XRP ETF approval until October has eliminated $5-8 billion in expected short-term buying, forcing the market to adopt a wait-and-see approach. Two key milestones remain: the non-farm payroll data on September 5th and the CPI data on September 11th. These figures will impact expectations of US dollar liquidity. Whether XRP will surge alongside BTC or suffer another wave of leverage losses will depend entirely on these two releases. Furthermore, while the SEC lawsuit has concluded, it's not completely resolved, with a $125 million fine still hanging in the balance. Any further regulatory concerns could exacerbate market volatility.

Tonight's short-term trading recommendation: wait for a rebound to falter before trading. Short positions may be considered around 2.8500-2.8600, with support at 2.7600 as the next target. If this level breaks below with significant volume, a move to around 2.7000 is possible.

Finally, a reminder: if XRP breaks through 2.8900, it means the rebound strength exceeds expectations, and the previous short position strategy must be adjusted quickly. Don't hold on to it stubbornly. After all, in this kind of sideways market, flexibility is more important than anything else. #Xrp🔥🔥