29-7-2025 – XRP’s recent rally to $3.50 has sparked concerns of a potential double top pattern, a bearish signal that could trigger a reversal, first noted by CoinDesk. After climbing from below $2.30, XRP’s price has stabilized above $3.20, but declining trading volume and an RSI nearing 75 suggest waning momentum.
A failure to break $3.50 decisively could confirm a second peak, with a drop below the $3.00–$3.10 neckline potentially pushing prices toward the 50-day EMA at $2.60. Ethereum, meanwhile, continues its robust ascent, gaining over 40% in recent weeks to trade at $3,888.
The breakout above $2,900, supported by high volume and a reclaimed 200-day EMA, has solidified a bullish trend. Despite an overbought RSI of 82, Ethereum’s brief consolidations indicate strong demand, with $4,000 as the next psychological target. The $3,300–$3,500 range serves as key support, aligning with major moving averages. Bitcoin remains locked below $120,000, facing resistance despite repeated intraday breakouts. Low volume during these attempts and an RSI of 61 signal a healthy consolidation phase, with support at $115,000 and $111,000.
The market’s bullish structure persists, backed by upward-sloping EMAs, but a high-volume breakout above $120,000 is needed to confirm further upside. Traders should monitor XRP’s price action near $3.50 for signs of a double top confirmation, while watching Ethereum’s push toward $4,000 and Bitcoin’s ability to breach $120,000.
