XRP News Today: XRP/BTC Shows Bullish Reversal Potential With 15% Uptrend

Prominent analyst EGRAG CRYPTO has recently shared a technical chart highlighting XRP’s performance against Bitcoin (XRP/BTC), noting that the pair has entered a critical technical zone. The chart reveals a significant bullish reversal, marked by an inverted hammer candlestick pattern. This pattern is often interpreted as a bullish reversal signal, especially after a downtrend. The analysis is based on classical technical charting principles and suggests a potential uptrend as the pair moves toward a breakout in August.

The chart features a large symmetrical triangle structure that contains XRP/BTC’s recent price action. At the time of the analysis, the pair was trading around 0.00002042 BTC ($2.194), sitting on the edge of structural support. The formation of an inverted hammer candlestick is particularly notable, as it indicates a potential bullish reversal. The analyst emphasizes that XRP is not being viewed bullishly enough by the broader market, despite the technical evidence. He encourages the XRP community to remain steadfast, suggesting that a major price move could be imminent.

Critical resistance levels are also clearly laid out, including the Fibonacci retracement zones. Notably, the 0.702 level (approximately 0.00002468 BTC/$2.652) and the 0.786 level (around 0.00002893 BTC/$3.1) are marked as key upside targets in the short to mid-term. These levels lie above the current range but are within striking distance should bullish momentum emerge. A green zone extending to 0.00002700 BTC ($2.9) provides a cue for a potential breakout zone above triangle resistance. Conversely, a red horizontal support line at approximately 0.00001930 BTC ($2.07) signals the last line of structural defense. This coincides with the lower boundary of the triangle and appears to be acting as a base for the inverted hammer to take effect.

Longer-term projections are drawn using Fibonacci extensions, with the 1.272, 1.414, and 1.618 levels suggesting potential future targets of 0.00007262 BTC ($7.8), 0.00009502 BTC ($10.2), and 0.00013982 BTC ($15), respectively. These targets sit well above historical resistance and represent new all-time highs for XRP if the current pattern plays out. EGRAG CRYPTO has previously predicted double-digit targets for XRP, and the chart marks August 25 as a key date for the upcoming breakout. While market confirmation is still pending, the groundwork for an upward move is technically laid out, with specific levels to monitor in the weeks ahead.