XRP Technical Analysis. Aug. 4Market Cap XRP, $CRYPTOCAP:XRPBullBearInsightsXRP Technical Analysis (1H Chart – Short-Term Outlook) Current Structure XRP is trading around $175.92B market cap (price reference from your chart), recovering from a recent downtrend and now pushing into a minor purple supply zone. * Trend Context: * Multiple Break of Structure (BOS) events confirmed the earlier downtrend. * A Change of Character (CHoCH) occurred after bouncing from the $161–$164B demand zone (green box). * Price is now challenging the first overhead resistance within $175–$176B. Key Levels * Immediate Resistance: * $175–$176B → Current supply zone. * $181–$184B → Stronger resistance and previous pivot high; breakout target if bullish momentum continues. * Immediate Support: * $170–$172B → Minor intraday support. * $164B → Key demand zone that triggered the reversal. * $161B → Major floor; losing this would invalidate the current recovery. Bullish Scenario * Break above $176B could open the path to $181B–$184B. * Sustaining above $184B would turn the short-term trend decisively bullish, with room to challenge $192B. Bearish Scenario * Rejection at $175–$176B followed by a drop below $170B could see price retest $164B. * A breakdown below $161B would resume the downtrend and put lower channel targets in play. My Thoughts XRP is in a short-term bullish correction inside a broader descending structure. If buyers can push through $176B with volume, we could see a clean run to $181B–$184B. But if supply holds firm, expect a retest of the $164B demand zone.