Ripple Price Prediction: XRP Selling Pressure Eases, "Four Major Signals" Indicate Strong Rebound Ahead

In the past week, the price of Ripple (XRP) has come under pressure, with a 7-day decline of over 10% and a further drop of 5.4% within 24 hours, pulling back in tandem with the overall crypto market. However, on-chain data and technical charts indicate that the selling pressure is weakening, and the conditions for a short-term rebound are gradually maturing.

Enhanced Practicality: 6,500 Pharmacies Accept XRP Payments

The application scenarios of XRP are expanding. In the United States, 6,500 pharmacies are accepting XRP as a compliant payment method through Wellgistics, indicating a continuous rise in its penetration rate in the fields of cross-border payments and retail settlement. This news has not yet been fully reflected in the price, but it has provided support for market confidence.

Profit supply ratio declines, historical data leans towards bullish

On August 17, the profit supply ratio of XRP dropped to 93.53%, marking a near two-week low, a pullback of nearly 5 percentage points from the high of 98.26% on August 7.

Historical experience shows that when the proportion of profit-holding coin holders decreases, the profit-taking pressure declines, making it easier for prices to rebound. Similar situations on August 5 and August 11 of this year both triggered a rapid increase in XRP prices in the short term.

Short-term holders actively accumulate

Glassnode's HODL Waves data shows that after XRP fell to a low of $2.77, the proportion of short-term holders with holdings of 1 to 3 months has significantly increased.

On August 1, addresses holding 1 million to 3 million XRP accounted for only 5.81% of the supply, rising to 9.28% by August 17. This indicates that recent buyers are choosing to hold rather than dump, demonstrating a recovery in market confidence.

Technical Analysis: The ascending triangle structure remains intact

The daily chart shows that the XRP price is still within an ascending triangle pattern, currently reported in the range of 2.96–3.08 dollars, slightly above the bottom support of the pattern.

Resistance levels: $3.15, $3.33 (key), $3.55, $3.66

Support levels: $2.95 (short-term), $2.72 (bearish reversal if broken)

If the price breaks through 3.33 USD, it will open up further upside potential; conversely, a drop below 2.95 USD may trigger a short-term pullback, but as long as it does not fall below 2.72 USD, the overall bullish structure remains intact.

Conclusion

The current on-chain data, holding structure, and technical patterns of XRP indicate that selling pressure is weakening, and the probability of a short-term rebound is increasing. If market sentiment continues to improve, breaking through $3.33 will become a key signal for the next wave of increase. For more real-time market updates and technical analysis, please follow the official Gate platform.