XRP Charts Signal Caution to Bulls as Bitcoin Awaits Breakout and Ether Goes Bonkers

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By Omkar Godbole, AI Boost

Updated Aug 9, 2025, 6:44 p.m. Published Aug 9, 2025, 6:25 p.m.

XRP prone to profit taking. (shutterstock_248427865)
  • XRP remains below the critical $3.65 level, where a bearish pattern previously emerged, as on-chain data shows potential for profit taking by holders.
  • Bitcoin is consolidating gains within a counter-trend descending channel.
  • Ether has broken out of a long-term symmetrical triangle, signaling a new uptrend towards previous record highs.

This is a technical analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

XRP

, the payments-focused cryptocurrency, surged 11% on Thursday,reportedly breaking outof a bull flag pattern to suggest renewed upward momentum. However, it’s not yet clear, as prices remain well below the crucial $3.65 level, where a bearish “tweezer top” candlestick pattern occurred last month.

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The tweezer top is a bearish reversal pattern, comprising two candles with identical highs that represent a clear rejection point, in this case $3.65. It’s as if the market tried to climb to a new level twice and was met with a brick wall of selling pressure at the same spot, a sign that the upward momentum has completely stalled.

The bulls, therefore, need to overcome the significant supply point at $3.65, a move that would invalidate the bearish reversal pattern.

XRP's weekly chart. (TradingView)

However, this may be easier said than done, as on-chain data suggests that holders are sitting on substantial profits and have a strong incentive to sell at current valuations.

“The [XRP] Net Unrealized Profit/Loss (NUPL) remains at elevated levels not seen since the 2021 peak, reaching similar levels to those observed in 2018. These high values indicate that the market still carries significant unrealized profits, which historically represents zones of potential distribution and price correction,” research firm Alphractal said on x.

XRP net unrealized profit and loss. (Alphractal)
  • Resistance: $3.38, $3.65, $4.00.
  • Support: $2.99, $2.72, $2.65.

Bitcoin’s (BTC) recent pullback is currently taking the shape of a descending channel (white lines) within its primary uptrend (yellow lines). This pattern is a classic “bull breather” that suggests the market is consolidating its recent gains.

The price’s recent bounce from the 50-day Simple Moving Average (SMA) further reinforces the strength of this consolidation. For traders, this means that while the short-term trend is still corrective, the path of least resistance remains to the upside.

BTC's daily chart. (TradingView)

A decisive breakout from the descending channel would confirm a continuation of the broader uptrend, potentially yielding a move to record highs above $123,000. Conversely, a move below the May high of $111,965 would increase the risk of a deeper sell-off to $100,000.

  • Resistance: $120,000, $122,056, $123,181.
  • Support: $111,965, $104,562, $100,000.

Ether has rallied to over $4,200, reaching levels last seen four years ago. The cryptocurrency has broken out of a prolonged symmetrical triangle that contained its price since the all-time high in late 2021, which is a major bullish signal.

ETH's daily chart. (TradingView)

The decisive breakout, particularly on a chart with this long a time horizon, indicates that the market has officially entered a new, powerful uptrend, opening the door for a retest of record highs above $4,800.

  • Resistance: $4,400, $4,875, $5,000.
  • Support: $4,000, $3,941, $3,737.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Omkar Godbole is a Co-Managing Editor and analyst on CoinDesk’s Markets team. He has been covering crypto options and futures, as well as macro and cross-asset activity, since 2019, leveraging his prior experience in directional and non-directional derivative strategies at brokerage firms. His extensive background also encompasses the FX markets, having served as a fundamental analyst at currency and commodities desks for Mumbai-based brokerages and FXStreet. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.

Omkar holds a Master’s degree in Finance and a Chartered Market Technician (CMT) designation.

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“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.

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