XRP continues to crawl towards the $4.00 barrier, driven by strong technical momentum and potential regulatory developments. During the week, the price rose by 8.53% to reach $3.2493, amid multiple signals that the currency may be in the early stages of a broader bullish cycle.
📈 Wave structure supports the upward trend
XRP is currently moving within the minor wave 3, which is part of the medium wave 5, which in turn completes the major wave 1. This alignment across multiple degrees of direction indicates that the currency may enter a dynamic growth phase, especially if it maintains the current wave structure without breaking the low of wave 4.
🔍 Market indicators reinforce optimism
- Funding rates are positive, reflecting the market's buying bias
- Open interest in futures is rising, indicating increased trader participation
- The liquidity map shows a large accumulation above the current price, which could attract the price towards higher targets during the third wave
🧠 Overall momentum supports XRP
According to CME Group's FedWatch tool, there is a 93.6% chance of a rate cut at the upcoming Federal Reserve meeting in September. This expectation could stimulate retail investor entry, boosting the upward momentum of the currency.
🐋 Smart money moves early
Data indicates that institutions may have already begun accumulating near the end of wave 2, suggesting that the current momentum may be driven by retail over an institutional base — a classic dynamic in the development of the third wave.
🎯 Near-term technical targets
- First resistance: $3.50
- Second resistance: $3.88
- Extended target: $4.10 according to [InsideBitcoins] analysis
⚠️ Alternative scenario
If the low of wave 4 is broken, the current impulsive count may be invalidated, opening the door for a more complex correction. However, as long as the technical structure remains intact, XRP is well-positioned to continue rising.
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