#XRP price rises over 10%, with the potential to challenge above $3.40 in the short term
XRP has shown significant upward momentum recently, accelerating above $3.10, with a cumulative increase exceeding 10%. It is currently trading around $3.30, above the 100-hour simple moving average. Technically, XRP/USD has broken a bearish trend line at $3.00 on the hourly chart, forming a clear bullish signal.
The bulls pushed the price above resistance levels at $3.10 and $3.15, reaching a high of $3.38. It is currently stabilizing above the Fibonacci retracement level, indicating that upward momentum remains. In the short term, the price may face resistance around $3.40, with the main resistance at $3.420. If this level is breached, it may further rally towards $3.50, $3.550, and even $3.620, with the next key target for the bulls at the $3.750 area.
If it fails to break through the $3.40 resistance, a short-term pullback may occur. The initial support level is at $3.250, with the main support at $3.150 (Fibonacci retracement level). If it breaks below $3.150, it may test the $3.10 and even $3.00 area, where the bulls may stabilize.
In terms of technical indicators, the hourly MACD is accelerating in the bullish zone, and the RSI is above 50, indicating bullish dominance.
#PEPE coin: Downward momentum slows, consolidation begins, rebound signals emerge
After soaring in July, PEPE coin has retreated to near June's lows, once approaching the $0.00001 support level. However, the recent market has shown optimistic adjustments, with indicators suggesting that the downtrend may be ending, paving the way for a rebound.
Cryptocurrency analyst MasterAnanda pointed out that PEPE's decline is more influenced by the overall market correction rather than issues with the token itself. Currently, PEPE is maintaining a solid trading structure in the $0.00001-$0.000011 range, not making new lows, indicating that the market still has support. This year, PEPE has reached peaks twice in May and July, exhibiting alternating patterns of increases and decreases.
Changes in trading volume release positive signals: PEPE's trading volume peaked at $5 billion in July, dropping to about $1.2 billion in early August, a decrease of 76% from the peak.
Low trading volume often indicates that the bearish trend is nearing its end, building momentum for a rebound. Currently, PEPE is in a consolidation phase, with prices fluctuating sideways, and consolidation is often a precursor to an upward trend. If the consolidation ends, it may trigger a new wave of increases.
#LINK: Whale accumulation + network upgrade, strong upward momentum
Chainlink has recently performed well, with a price of $18.89 at the time of writing, up 13% in 24 hours and 12% over 7 days, with a cumulative increase of 36% over 30 days. The price has fluctuated between $15.48 and $19.16 in the past week, showing significant market activity.
In terms of trading volume, LINK's spot trading volume increased by 300% in 24 hours to $1.37 billion, with the derivatives market also active, with open interest rising by 24.7%. Futures trading volume reached $2.63 billion, indicating traders expect greater price volatility. On-chain data shows that the number of whale wallets holding 100,000 to 1 million LINK has increased by 4.2% in August, accumulating an increase of 0.67% of the total supply.
Recent network upgrades have become important catalysts: On August 4, the launch of US stock and ETF data streams supported the tokenization of real-world asset markets; on August 7, Chainlink Reserve was launched, strengthening long-term growth support; on the same day, its cross-chain protocol was used in Brazil's Drex CBDC pilot, participating in trade finance trials.
From a technical perspective, all cycle moving averages show buy signals, with RSI at 61 (not overbought). If it breaks through the resistance at $19.16, it may aim for $20.50-$21; if it loses the support at $18, it may retest the $17.20-$17.50 range.