Recent Trends and Operation Guidelines Overview
Today, we focus on XRP (Ripple), combining market dynamics and technical indicators to explain the logic of price movements, key levels, opportunities, and risks, along with specific operational suggestions that even beginners can understand.
First, let's look at the resistance level. The most critical level right now is $3.15, which is the position of the 100-hour moving average. To move upward in the short term, this hurdle must be crossed. If we can break through steadily, the next target will be $3.25-$3.40, which is the high before August. If this level is broken, there will be potential for short-term upward movement. Looking higher, $3.60 is strong resistance and also the target for the symmetrical triangle breakout. If we see a significant breakout (enough buying pressure and trading volume), we could directly see a potential rise to $5.00.
Fundamentally, there is also solid support. Firstly, the SEC lawsuit has ended, and on August 7th, it was clarified that XRP is not a security, removing the biggest barrier for institutional entry, which is a long-term positive. Additionally, Grayscale's XRP Spot ETF is currently under review, with market expectations for approval at 81%. If approved, it could bring in $800 million in incremental funds, enhancing liquidity.
In terms of operations, we differentiate between short-term and long-term:
For short-term trading, the current price is $2.9930. If you want to go long, you can take a small position and set a stop loss below $2.88. If it breaks below $2.88, don't panic; wait for a chance to go flat until it reaches $2.40-$2.65 (smart money accumulation zone) before gradually building a position.
For long-term holding, do not exceed a total position of 15%, focusing on the technical breakthroughs in September and the progress of the RWA ecosystem, with a target price of $5.00-$8.30.
Today's specific suggestions: primarily focus on buying low, looking to go long around $2.9810-$2.9340, first targeting $3.0030, and if that holds, then look to $3.1050. Overall, XRP has positive support, but in the short term, it needs to conquer resistance. Avoid greed in operations; a steady and cautious approach is more reliable. $BTC
