XRP News Today: XRP Gains Momentum on Supply Drop and Bullish Divergence Against ETH

XRP is demonstrating technical signs of a potential reversal on its daily chart after forming a double top pattern. The token has bounced from a key support level and is now testing resistance around the $3.34 level, a price it previously reached on Thursday [1]. Technical analysis and on-chain data suggest that the market is building momentum in favor of a rebound.

According to on-chain metrics from Glassnode, XRP’s Percent Supply in Profit has fallen to 93.5%, the lowest in nearly two weeks. This decline indicates a decrease in profit-taking pressure among holders [2]. HODL Waves data further supports this trend, showing an increase in holdings among short- and mid-term investors. The share of XRP held in one-to-three-month wallets rose significantly from 5.8% to over 9.2% in mid-August [2]. This shift is often seen as a sign of accumulation and growing bullish sentiment.

XRP remains within an ascending triangle pattern, a common bullish continuation structure. The key support level is currently at $2.95, with resistance clusters between $3.15 and $3.55. A sustained hold above $2.95 would validate the bullish outlook, while a close below $2.72 would signal a breakdown [2].

Analyst CryptoInsightUK has highlighted a bullish divergence between XRP and Ethereum. Despite the XRP/ETH pair recording lower lows over the past three months, the RSI has shown higher readings, suggesting that XRP is gaining strength relative to the broader market [2]. CrediBULL has also noted that the pair is currently trading in a key reversal zone between 0.0006 and 0.00072, potentially setting the stage for a breakout.

While Ethereum has seen gains in recent months, analysts expect it may enter a consolidation phase following a five-wave impulse move. In contrast, XRP has been consolidating above its record-high monthly close of $3.03 for the past nine months, absorbing much of the selling pressure [2]. This extended consolidation could be a precursor to a more significant upward move.

XRP's potential for a rebound is also supported by growing real-world adoption, including recent developments where U.S. pharmacies have started accepting XRP [2]. Combined with on-chain accumulation and favorable technical indicators, these factors suggest the token may test higher levels if key supports continue to hold.

Traders are advised to remain cautious, as short-term volatility remains a concern. The market is closely watching for confirmation of a sustained upward move, particularly above $3.33, which could open the door for further gains [1].

Source:

[1] Mitrade, [https://www.mitrade.com/insights/news/live-news/article-3-1051006-20250819](https://www.mitrade.com/insights/news/live-news/article-3-1051006-20250819)

[2] Brave New Coin, [https://bravenewcoin.com/insights/xrp-price-prediction-xrp-gains-strength-on-supply-drop-and-bullish-divergence-against-eth-breakout-brewing](https://bravenewcoin.com/insights/xrp-price-prediction-xrp-gains-strength-on-supply-drop-and-bullish-divergence-against-eth-breakout-brewing)