XRP Slides 4% Amid Bitcoin Sell-Off, but Cup-and-Handle Setup to $5 Intact

1 day ago

News Background

XRP continues to commercialized nether regulatory uncertainty arsenic markets await cardinal SEC decisions connected spot crypto ETFs successful September.
Active XRP Ledger addresses roseate 20% implicit 3 days, signaling renewed web engagement up of the planned September 12 Decentralized Media launch.
Chinese fintech steadfast Linklogis integrated its trillion-dollar supply-chain financing level with the XRP Ledger, sending its equity 23% higher and adding to signs of organization interest.
Whale enactment remains elevated: 900 cardinal DOGE worthy $200 cardinal moved to Binance earlier this week, highlighting ongoing large-holder repositioning crossed memecoins.

XRP declined 4.30% during the 24-hour play from August 28 astatine 13:00 to August 29 astatine 12:00, dropping from $3.02 to $2.89.
The token traded successful a $0.17 set (5.75% of league peak), sliding sharply from $3.02 to $2.84 during the archetypal sell-off astatine 15:00 GMT connected Aug. 28.
Accumulation involvement surfaced astir $2.85–$2.86, with volumes supra the 75.9 cardinal regular mean during the 07:00–09:00 GMT betterment phase.
In the last hr (11:56–12:55 GMT connected Aug. 29), XRP rebounded from $2.87 to $2.89, concisely touching $2.91 astatine 12:31 connected a 19.6 cardinal surge.

Support: Strong basal forming astatine $2.85–$2.86; intraday stableness astatine $2.88 underscores accumulation.
Resistance: Selling unit remains astatine $3.02, with $2.91 acting arsenic a near-term ceiling aft the bounce.
Momentum: RSI dependable successful the mid-50s aft a dip to 42, reflecting neutral-to-improving momentum.
MACD: Histogram is converging toward a bullish crossover, suggesting imaginable upside follow-through.
Patterns: Bearish trajectory from $3.02 capped rallies, but a cup-and-handle setup remains connected ticker with method targets successful the $5–$13 portion if momentum extends.
Volume: 273M tokens traded during highest league activity; 19.6M surge astatine 12:30 GMT confirmed organization buying astatine $2.88–$2.91.

Ability to support $2.85–$2.88 enactment arsenic the instauration for further recovery.
Break supra $3.02 absorption could unfastened a way toward $3.20 successful the adjacent term.
Bearish script points to $2.80 if $2.85 fails.
Network maturation (20% leap successful progressive addresses) and Linklogis’ integration with XRPL arsenic cardinal tailwinds.
Monitoring whether organization accumulation offsets whale-driven organisation successful coming sessions.