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A new analysis by popular crypto chartist EGRAG CRYPTO on the social media platform X provides an in-depth look at five technical markets on XRP’s path forward. Notably, XRP’s price action has been experiencing a slight retracement and consolidation in early August following a rally in July during which XRP broke above $3 and reached new all-time highs.

Key Things To Watch Out For With XRP’s Price Action
Currently trading just around the $3.00 psychological level, XRP’s price action is witnessing volatile candles across shorter timeframes. However, according to the technical outlook from EGRAG CRYPTO, XRP bulls appear to be defending key zones around $2.90, amidst the broader market sentiment remaining cautiously optimistic.
The first key thing to watch out for is bullish closings above $3. Zooming into the 4-hour timeframe, EGRAG’s first key observation is that XRP has managed to close multiple candlesticks above the $3.00 threshold. This level is not only psychological but also a strong confidence booster for traders looking for confirmation of bullish continuation.

Secondly, the charts show that most of the candle wicks are forming from the upside, a sign that while sellers are active, they have not overwhelmed the buying strength just yet.

However, the third key thing to watch out for is a possible correction. Particularly, EGRAG noted that a retest of the $2.96 to $2.93 price zone is possible in the near term. This price range has been marked as a short-term support zone, where buyers could look to reload if XRP briefly dips.

That being said, the more critical level for bulls to protect is $2.80, which is the fourth key thing to watch out for. According to the analyst, closing below $2.80 again would undermine the bullish structure and could cause downside momentum. As such, holding above this level is crucial for maintaining bullish momentum.
Price Target Goals
The fifth key thing to watch out for as the bull market unfolds is price targets that can confirm bullish momentum. In terms of price targets and resistances, EGRAG noted specific price levels that would reflect new bullish energy and possibly a breakout to new all-time highs.
The first milestone is a close above $3.185. This level previously acted as a rejection zone in late July. Therefore, breaching $3.185 with conviction would flip sentiment more decisively in favor of the bulls. Above that, the analyst highlighted $3.25 as the next key checkpoint, and surpassing it would put XRP in a strong technical position.

The resistance targets beyond that are $3.33 and $3.45, and these are breakout zones that could cause a new all-time high scenario. These targets align with the upper resistance blocks illustrated on EGRAG’s charts, and any solid close above $3.45 can be interpreted as a move to at least $3.65.

At the time of writing, XRP is trading at $3, up by 2.4% in the past 24 hours.
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Bitcoin is currently consolidating inside a descending channel, with the Ichimoku Cloud acting as resistance near the top of the structure.

At the moment, BTC is getting squeezed between the descending channel resistance and the lower support area. This tight price action suggests that a strong move could happen soon.

If Bitcoin breaks above the channel and clears the Ichimoku resistance, it would confirm bullish momentum and may push the price higher toward the $118,000–$120,000 zone.

However, if price stays within the channel, consolidation may continue, and a breakdown from the lower boundary could send BTC toward $112,000–$113,000 levels.

Tom Lee, discusses his bullish call for $ETH and why "Ethereum is having it's #Bitcoin 2017 moment again.

$BTC $ETH

After recovering from its local lows, Cardano (ADA) is retesting a key area that could send the price to the next crucial resistance. Some analysts suggest that the cryptocurrency is preparing for a massive rally.
Cardano Retests Key Resistance
Following last week’s drop to the $0.70 support, Cardano is attempting to break out of a crucial resistance level to continue its rally. The cryptocurrency has surged 8.8% from Friday’s low, retesting the $0.74-$0.76 area throughout this week.

Notably, ADA has been hovering between the $0.65-$0.85 price range since the Q2 market recovery, briefly losing this area during the June pullback. However, the July market pump sent the altcoin to a four-month high of $0.93, sparking bullish sentiment among investors.

According to the analyst, ADA must reclaim the 50-day Moving Average (MA), which has served as a strong resistance and support level and coincides with the descending resistance breakout area.

Following today’s performance, the altcoin has reclaimed the 50 MA indicator and eyes a retest of the $0.76 resistance. A breakout from this level would set the stage for a retest of the next crucial area between $0.79 and $0.80. “Getting back above $0.80 would confirm the trend reversal,” Sebastian affirmed.
Meanwhile, a rejection from this area could propel Cardano to retest the recent lows and risk losing its local range again.

ADA Breakout Eyes 85%-120% Rally
Man of Bitcoin noted ADA’s recent performance, asserting that it is “now potentially working on a small 1-2 setup.” Based on this, he suggested that “as long as the price remains above the last swing low at $0.685, wave-5 of iii should follow next.”

Meanwhile, analyst Ali Martinez highlighted that the cryptocurrency has been trading within a descending channel since its December 2024 high of $1.32. According to the chart, ADA retested the channel’s upper boundary for the first time in months during the July breakout but was ultimately rejected.

Reclaiming the $0.76 could propel the altcoin to the channel’s resistance, and “a breakout above $0.84 could set Cardano on a path toward $1.30.”

Additionally, Martinez asserted that “ADA is showing the same price structure as the last cycle, only this time, it’s unfolding more gradually. And it feels like we’re right at the beginning of an explosive move.”

Similarly, Crypto Bullet stated that Cardano has been following a pattern over this cycle. Per the chart, the cryptocurrency has been trading down for months before breaking out and reaching new local highs.
Last month, the cryptocurrency broke out of its eight-month downtrend, targeting a rally toward the $1.60 area. Now, ADA is retesting the descending resistance line, which could set up the stage for the 120% jump if the breakout is confirmed.

As of this writing, Cardano is trading at $0.74, a 3% increase in the daily timeframe.

$ADA
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As part of an initiative to internationalize the renminbi (Chinese Yuan) and enhance its competitiveness against the US dollar, China is poised to launch its first stablecoin. Meanwhile, the US is making significant progress toward its mission of becoming the crypto capital of the world.

Despite this ambitious plan, concerns about potential capital flight are reportedly hindering the rapid advancement of stablecoin technology within the country.

China Explores Stablecoin Initiatives
According to a report from the Financial Times, Hong Kong has emerged as a testing ground for cryptocurrency, particularly given the strict bans on the mainland.
Recently, the territory passed legislation allowing licensed businesses to issue tokens backed by any fiat currency. However, the Hong Kong Monetary Authority (HKMA) has taken a cautious stance, indicating that only a limited number of licenses will be issued starting next year.
Policymakers in China have increasingly turned their attention to stablecoins, recognizing the growing dominance of dollar-backed tokens in the global economy.

The central bank governor, Pan Gongsheng, noted in a June speech that stablecoins have “fundamentally reshaped the traditional payment landscape.” However, the Chinese government faces a delicate balancing act; while it seeks to enhance the global standing of the renminbi, it must also maintain stringent controls over its financial system.
Recent discussions among financial regulators have centered on the implementation of stablecoin projects, emphasizing that any such initiative must align with China’s unique national conditions. Yet, experts have cautioned that the risks associated with capital outflows could pose significant challenges.

Interest Grows In Hong Kong
Rebecca Liao, CEO of Saga, a company focused on blockchain infrastructure, articulated the complexities of adopting stablecoin technology, highlighting that it cannot be completely controlled by central authorities.

This concern has contributed to Hong Kong’s slower progress in developing a thriving stablecoin market, especially when compared to the rapid growth observed in the United States.

The HKMA has voiced apprehensions about the potential use of stablecoins in money laundering, emphasizing the need for stability and control in its new regulatory framework.

As such, initial stablecoin programs in Hong Kong are expected to focus on business-to-business applications, limiting their broader adoption.
The report emphasizes that interest in stablecoins is also growing among Chinese state-owned enterprises, particularly in the context of payment and settlement solutions.

Multiple state-owned companies with operations in Hong Kong are reportedly looking to apply for stablecoin licenses, although only one of China’s four major state-owned banks is expected to receive a license from the HKMA in this initial phase.

The HKMA has not ruled out the possibility of approving licenses for stablecoins backed by offshore renminbi, a move that could further facilitate cross-border payments—an area of increasing importance for China.

#BTCReserveStrategy #BTC
$BTC $ETH

Ethereum (ETH) has mirrored the broader cryptocurrency market’s recent downturn, with its price declining by 4% over the past week. As of today, ETH trades at approximately $3,598, reflecting a 1% decrease in the past 24 hours.

This pullback follows months of mixed price action across the market, as traders balance optimism over long-term fundamentals with short-term risk management.

New insights from on-chain data suggest heightened market activity surrounding Ethereum despite its failure to reclaim the $4,000 mark. Analysts point to unprecedented levels of Open Interest (OI) in Ethereum futures contracts, combined with record daily transactions on its network.
While this signals growing participation and network adoption, it also raises concerns about potential volatility if market sentiment shifts abruptly.
Ethereum Open Interest Hits All-Time High
CryptoQuant analyst CryptoOnchain reported that Ethereum’s OI on Binance has recently reached a record-breaking $77 billion. Open Interest measures the total number of outstanding derivative contracts, providing insight into market activity and trader participation.

The surge suggests that more capital is entering ETH futures markets, potentially setting the stage for significant price movements.
This rise in OI coincides with Ethereum reaching its highest daily transaction count ever recorded. Analysts link this spike in activity to increased engagement in decentralized finance (DeFi), growth in layer-2 scaling solutions, and broader adoption of Ethereum-based applications.
CryptoOnchain noted that such developments “highlight growing participation and user engagement,” adding that this type of market buildup often precedes sharp price trends, either upward or downward.

However, this accumulation of leveraged positions carries risk. If price movements turn unfavorable for the majority of open contracts, a wave of liquidations could occur, amplifying volatility.
This has been a recurring theme in the cryptocurrency market, where leveraged positions can trigger cascading sell-offs during sudden price corrections.

Bearish Signals Emerge from Market Order Activity

Another CryptoQuant analyst, Maartunn, highlighted a different indicator that reflects short-term market pressure on Ethereum. According to his data, Net Taker Volume for ETH stood at -$418.8 million daily.

This figure represents roughly 115,400 more ETH sold via market orders than bought, indicating a clear imbalance in favor of sellers. Market orders, unlike limit orders, execute trades immediately at the best available price.
A sustained negative Net Taker Volume often signals urgency among sellers, potentially foreshadowing further downside if buy-side demand fails to absorb the selling pressure.

Maartunn explained that “such behavior indicates participants were willing to prioritize execution speed over price,” typically a bearish market sign.
Ethereum’s price action remains constrained below its psychological $4,000 resistance level. Despite strong on-chain activity, the divergence between network fundamentals and price performance shows a period of indecision for ETH.

$ETH
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A CEO thinks XRP is one of the most misunderstood tokens out there. Jake Claver, chief executive of Digital Ascension Group, marked his YouTube channel hitting 100,000 subscribers by talking about what might push XRP’s price higher.
Institutional Bets On XRP Backing.....
According to Claver, Digital Wealth Partners now holds over $200 million worth of XRP. That stake shows how much confidence they have in the token’s potential.

During a livestream, he pointed to the altcoin’s future role in settling tokenized assets. He believes that as more institutions adopt blockchain and tokenization, XRP could become a key link in global finance.
The company isn’t only betting on price swings. It offers loans backed by crypto like BTC and XRP. Loan-to-value ratios go as high as 80% and rates sit between 13% and 16%.

Claver said upcoming partnerships could cut those rates further. Reports have disclosed that the fund works alongside clients’ trusted advisers, blending traditional wealth services with crypto options.
Claver talked about how his firm helps clients who manage IRAs and 401Ks. He said Digital Wealth Partners acts as an extension of existing advisory teams rather than replacing them.

The Email Analogy For Payments
Claver compared XRP’s role to early email systems. Back then, users needed the same provider to send and receive mail. Today, thanks to standard protocols, any email can reach any inbox, and mostly for free.

He thinks XRP could do something similar for digital payments, bridging different apps and banking systems across borders. He said real-world use like that will force a fresh look at XRP’s value once big players catch on.

Of course, getting major banks to agree on the same standard and meeting strict KYC and anti-money laundering rules are two hurdles that can’t be ignored.
XRP Price Trajectory
Based on analysis, the biggest price trigger for XRP may come in mid-August 2025, when the US Securities and Exchange Commission is expected to clarify the altcoin’s status. A positive outcome could spark a rally. A delay or mixed guidance might send prices down.

Claver isn’t alone in watching this calendar. Paul Howard, Director at Wincent, said US rate changes possibly arriving in September could shift market sentiment.
$XRP
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After a liquidity sweep above the $3.4 high, Ripple underwent a shakeout, dropping sharply toward a key support level. However, short-term consolidation above this critical zone is anticipated.
The Daily Chart
XRP recently broke above the $3.4 high in mid-July, tapping into a major liquidity pool. This upward move triggered buy-side liquidity, often targeted by smart money to trigger stop-losses from over-leveraged long positions, a classic bull trap scenario.

Following this sweep, XRP faced significant selling pressure, pulling the price back toward a crucial support region around the $2.7 level, which also aligns with the 0.5 Fibonacci retracement level.

This zone is likely to act as a short-term support, leading to consolidation within the $2.7–$3.4 range. As long as this structure holds, the price is expected to range sideways, absorbing selling pressure before its next decisive move. A valid breakout above or below this range will likely lead to a strong directional move.
The 4-Hour Chart
Zooming into the lower timeframe, the breakout above $3.4 quickly reversed as sellers stepped in, reinforcing the idea of a bull trap. XRP has since declined sharply, finding support at the 0.5–0.618 Fibonacci retracement zone, which has triggered a minor bullish pullback.

The current price is range-bound between $2.7 (support) and $3.1 (resistance). This consolidation phase could persist unless a strong catalyst emerges.

A bullish breakout above $3.1 would open the door for a retest of the $3.4 high, while a breakdown below $2.7 would expose the $2.58 support as the next key level.

This price behavior reflects classic market manipulation and liquidity dynamics, with smart money exploiting key levels. Traders should remain cautious and watch for a confirmed breakout before positioning for the next move.
$XRP
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