Ah, dear reader! Behold the tale of XRP, which has taken a tumble of 5.4% in the last 24 hours, and over 10.3% this past week! It seems our dear XRP is dancing in step with the broader market’s correction, much like a clumsy dancer at a ball. 🕺💃 The whales have exited stage left, and the short-term sell pressure has left its mark. Yet, lo and behold! Beneath this tempestuous surface, a change is afoot!
With 6,500 US pharmacies now accepting XRP for compliant payments through Wellgistics, our dear XRP is receiving a most splendid real-world boost! And even before this news fully unfurls its wings, the key on-chain and chart metrics are whispering a singular message: the trend of XRP is not yet broken! 🎉
Percent Supply in Profit Drops; But That’s Historically Bullish
On the 17th of August, the Percent Supply in Profit for XRP stood at a mere 93.53%, the lowest in nearly two weeks! For context, just ten days prior, on the 7th of August, this very metric reached its zenith at 98.26%. Oh, the drama! 🎭
Such a drop of nearly five percentage points typically signals that fewer holders are basking in the glow of massive unrealized gains. 
This is of utmost importance, for when fewer souls are swimming in heavy profit, the act of profit-taking slows to a crawl. On the 5th of August, a similar drop (94.75%) heralded a leap from $2.97 to $3.32 for XRP in but two sessions! A marvelous spectacle! 🎇
It happened again on the 11th of August, when a dip to 94.37% preceded a rally from $3.13 to $3.27. With today’s levels flirting with the fortnightly low, the stage is set for yet another short-term bounce! 🎢
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Short-Term Wallets Are Accumulating the Dip
Supporting this narrative is the behavior of wallets! According to Glassnode’s HODL Waves, the 1-month to 3-month holding cohort has spiked notably after XRP hit its August low of $2.77. 
On the 1st of August, this cohort comprised a mere 5.81% of the XRP supply. By the 17th of August, it leapt to 9.28%! Such a shift tells us that recent buyers are holding on for dear life, not tossing their tokens into the abyss – and they do so despite the volatility and the whale selling narrative! 🐋
This behavior is a sign of growing conviction! These short-term holders are stepping in during corrections, a pattern that often precedes trend reversals. The last time this group grew so swiftly, XRP’s price soared with sustained upward momentum within a week! 🚀
XRP Price’s Bullish Structure Still Intact, But Watch These Levels
As we zoom out to the daily chart, we find that the XRP price remains ensconced within an ascending triangle – a bullish continuation pattern, if you will! The price currently hovers around $2.96-$3.08, just above the triangle’s base. 
Here are the key zones to keep thine eyes upon:
- Resistance: $3.15, $3.33, $3.55, and $3.66
- Support: $2.95 (short-term), and $2.72 (final invalidation)
The $3.33 resistance level is the mightiest of them all, as the XRP price has faced rejection at this level more times than one can count over the past few days! ⏳
If XRP were to close below $2.95, the ascending triangle risks a breakdown, but fear not! A full bearish reversal shall not occur until $2.72 is breached! 🛡️
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2025-08-19 03:42