Breaking: XRP experienced a meaningful 11% surge in the last 24 hours, nearing a key resistance level at $3.40 as of august 8, 2025, following a recent correction from a six-month high of $3.66.
Previously, XRP had been in a downtrend, characterized by successively lower highs (indicated by orange arches in chart analysis), pushing the price towards a support zone (the blue zone).A bullish reversal required breaking this established downtrend,which occurred at the lower purple line on the chart.
Following the breakout, XRP rapidly surpassed previous resistance levels, reaching $3.66 – its highest price point in over six months. The subsequent pullback was anticipated given the speed of the initial ascent. The price corrected to $2.72,but buying pressure emerged,preventing further declines.
Analyzing a 4-hour chart reveals a continuation of the pattern of lower highs and lower lows (again, indicated by orange arches). The recent breakout of a previous high triggered the 11% increase. Currently, XRP is testing the $3.40 level, which may act as resistance, potentially leading to a further price decrease.Conversely, a successful breach of this level could signal continued upward momentum.
Monitoring these key price levels and chart patterns is crucial for anticipating future price movements in XRP. Investors should closely observe whether XRP can sustain its position above $3.40 to confirm the continuation of the bullish trend.
