Date: Mon, Aug 18, 2025 | 06:20 PM GMT
The cryptocurrency market is experiencing mild selling pressure as Ethereum (ETH) slips 4% on the day, pulling back to $4,350 from its recent high of $4,780. This dip has spilled over into the major altcoins with XRP also trading lower.
Currently, XRP is down around 4% on the week, but beneath the surface, a well-recognized harmonic pattern is forming on the charts—one that could signal a potential upside move in the days ahead.
Harmonic Pattern Hints at Potential Upside
On the daily chart, XRP is shaping up within a Bearish Butterfly harmonic pattern. Despite the “bearish” label, this setup often precedes bullish continuations during its final leg (CD), when price extends into the Potential Reversal Zone (PRZ).
The formation began at point X ($3.66), followed by a dip to A, a rebound to B, and another correction to C near $2.94. From that point, XRP has started to recover, now trading around $3.05.
Importantly, the token has defended its 50-day moving average (MA) at $2.94, which is acting as a short-term support zone. Holding above this level strengthens the bullish case for XRP’s next leg higher.
What’s Next for XRP?
If buyers maintain control above the 50-day MA and point C support ($2.94), XRP could advance toward the PRZ, which stretches from $3.92 (1.272 Fibonacci extension) to $4.26 (1.618 Fibonacci extension). Historically, these levels serve as key completion targets for the Butterfly pattern, often marking areas where momentum either consolidates or reverses.
On the downside, a failure to sustain above $2.94 would weaken the harmonic structure, potentially delaying or invalidating the bullish breakout scenario.
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