XRP is holding at $3.26 after a volatile week marked by conflicting signals from both technical charts and regulatory developments.
BlackRock has officially confirmed it has no plans for an XRP ETF, tempering market excitement after Ripple’s recent legal progress.
Meanwhile, the Independent Community Bankers of America (ICBA) has filed a formal objection to Ripple’s national trust bank application, raising compliance concerns and rekindling debates over XRP’s acceptance in traditional finance.
Dominance Levels to Watch
Analyst EGRAG Crypto points to the XRP Dominance Chart as a critical guide for the next price moves. His key levels include:
- Fib 0.5 (5.92%) – Needs a confirmed breakout to unlock higher targets.
- Fib 0.618 (8.87%) – Next major resistance on the upside journey.
- Fib 0.702 (11.61%) – Considered the optimal target for this cycle.
- Fib 0.888 (21.5%) – A breakout here could trigger a major rally.
According to EGRAG, surpassing these dominance thresholds could signal a strong multi-month uptrend, with the potential to repeat previous parabolic phases seen in 2017.
Technical Picture Turns Cautious
XRP has slipped below its $3.26 support, turning it into resistance. A death cross has formed on the 4-hour chart, with the 50 SMA crossing under the 200 SMA. RSI sits at 53.08 on shorter time frames, showing neutral momentum, while the MACD histogram remains slightly negative, suggesting bears still have control.
If the price fails to reclaim $3.26, immediate support lies at $3.08, with a deeper pullback possibly targeting $2.88.
Whale Activity Adds to Uncertainty
On-chain data shows mixed whale behavior. Roughly 94 million XRP (around $308 million) flowed into exchanges in the last 24 hours, hinting at potential selling pressure. At the same time, another large wallet accumulated 50 million XRP during the recent dip, signaling some confidence in a rebound.
Outlook
While short-term technicals lean bearish, EGRAG’s dominance analysis suggests XRP could be on the verge of a breakout if it reclaims critical levels. The August 15 SEC-Ripple case update and further regulatory filings from the ICBA will likely shape sentiment heading into the next cycle.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-price-outlook-key-levels-that-could-trigger-the-next-rally/