Wang Pang XRP Brief Comment

XRP is currently priced around $2.89, recently fluctuating in the range of $2.77-$2.90, with decreasing volatility, which usually indicates a significant market movement ahead.

Key Points

• Support Levels: $2.77-$2.80 (recent support, also a key psychological level), $2.65 (second support), $2.50 (stronger support).

• Resistance Levels: $2.90 (psychological price level), $2.95-$3.00 (upper edge of descending triangle and dense resistance area with moving averages), $3.20 (target after breakout).

• If it can stabilize above $2.95, it may initiate a short-term rise, initially looking at the $3.20 area.

Technical Indicators

• RSI: Current 43 (neutral to weak), the market is slightly bearish, but not oversold, leaving room for a rebound.

• ADX: Currently 20, the market has no clear trend, momentum is insufficient, waiting for directional choice.

Potential Bullish Factors

1. Capital Inflow: Coinglass data shows that on September 4, the net inflow of XRP to spot exchanges was $8.41 million, breaking the trend of outflows in August, traders are starting to re-establish positions, and the market may be brewing new momentum.

2. ETF and Cycle: The market is anticipating the XRP spot ETF results in October; some analysts say the current trend resembles the surge before 2021, and if it breaks $3, it could reach $4-$5 in the coming months.

Operating Suggestion: Lightly go long near $2.89-$2.92, targeting $2.95-$2.99.

Reminder: The market is volatile, it's essential to defend and preserve your principal. #Xrp🔥🔥