XRP is flashing a classic reversal signal—and if this plays out, we could be looking at a powerful breakout.
After dipping 21% from its mid-July high, XRP has found solid support near the $2.88 zone. This could mark the second bottom of a double bottom pattern, often a sign that buying momentum is returning and a reversal is in play.
But it's not all smooth sailing.
📉 Macroeconomic Pressures Still Loom
The US Federal Reserve held interest rates steady in July due to ongoing tariff tensions. Today marks the expiration of the "reciprocal" tariff pause, slapping 92 countries with increased trade taxes. Add in worse-than-expected job numbers and fading hope for a September rate cut, and we’ve got a risk-off market environment.
Still, crypto sentiment tells another story.
💹 Market Signals Point to Strength
The Binance long/short ratio sits at 2.59, meaning over 72% of traders remain bullish on XRP in the derivatives market. This shows growing confidence in a breakout.
The key level to watch? $3.30, which serves as the neckline of the double bottom formation. A breakout above this could send XRP targeting $3.65, and potentially even $4.10, a level last seen before its 9-month falling wedge took control.
🔍 What to Watch Next
Support: $2.88 must hold to keep the bullish case alive
Resistance: $3.30 neckline—critical for breakout confirmation
Upside Target: $3.65 first, then $4.10 if momentum builds
Downside
Risk: If $2.88 fails, XRP may revisit support near $2.60
Ali's technical read, along with current trader positioning, suggests this could be a key inflection point for XRP. If the breakout is confirmed, XRP could be setting the stage for a major run.
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