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XRP Bullrun After $3.26 Breakthrough? Bitcoin (BTC) $115,000 Breakout Secured, Solana (SOL): 84% Volatility Explosion?

Fri, 8/08/2025 - 0:01
The market is going to take a shot at reversal as multiple assets reach local resistances
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XRP Bullrun After $3.26 Breakthrough? Bitcoin (BTC) $115,000 Breakout Secured, Solana (SOL): 84% Volatility Explosion?
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XRP painting early signs of a possible bullrun investors should exercise caution as there is currently insufficient confirmation. Right now the asset is above the 26 EMA, a crucial short-term support level that frequently denotes bullish momentum. A sustained upward trend or a complete market reversal are not however assured by a single indicator. 

XRP has shown resilience in recent weeks recovering from a steep correction from the $3.60 range to a local low near $2.80. Buying activity around the 50 EMA was strong supporting this rebound and suggesting that mid-term bulls are still active. At the moment XRP is trading at about $3.07 a level that requires careful attention.

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XRP/USDT Chart by TradingView

In order to confirm a proper bullrun XRP needs to surpass and stay above $3.30 which served as a local resistance during the previous decline. If it breaks above that level it may be possible to retest the 2025 high which is still about 25% off at $3.80. Support levels on the downside are $2.80 and $2.60 which correspond to the 50 and 100 EMAs respectively.

If these levels were to fall it would indicate waning bullish momentum and potential further decline. Compared to July's explosive move volume is still low for the time being indicating that momentum may not be strong enough to support a significant breakout just yet. Near 54 the RSI is in a largely neutral zone that allows for potential upside but provides no indication of strength. 

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Bitcoin Gets Ready

Bitcoin has officially breached the crucial resistance level of $115,000 indicating a technically confirmed breakout however prudence is advised. Although the breakout appears bullish on paper the asset is once again getting close to the technically and psychologically dense resistance level of $120,000 which has served as a ceiling on several occasions in recent months. 

All three of the major moving averages, the 26 EMA, 50 EMA and 100 EMA–slope upward and are stacked in a bullish formation indicating a clear upward structure on the chart. But since early July Bitcoin has struggled to maintain momentum above $120,000 even with this structurally sound setup. 

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At that level several rejection wicks show that sellers are trying to push through. On this most recent leg up, volume has not increased much, which may indicate that buyers are hesitating as the asset approaches overbought conditions. On its own the RSI's neutral 52 position provides little conviction but allows for potential movement in either direction. Until a powerful catalyst appears, range-bound movement between $112,000 and $120,000 is the most likely short-term scenario given the current structure of the market. 

At $110,000 the 50 EMA served as support during earlier pulldowns and bears might try to drive the price back down toward it. The next stronghold is at $102,500, close to the 100 EMA if that level breaks. 

Solana Squeezed Too Hard

Solana is exhibiting compression that may be a precursor to another surge in volatility perhaps akin to the October 2024 rally of 84%. The cluster of exponential moving averages (26 EMA, 50 EMA and 100 EMA) that all converge closely around the $162-$165 region has caused SOL to bounce off and is currently trading at about $172. 

The late October 2024 setup in which SOL coiled above the 50 EMA and exploded to the upside gaining over 84 percent in a brief period of time before reversing is similar to this tight EMA compression. As the price tries to recover its prior support trendline which is currently serving as resistance after dropping below it during the most recent correction from the $200+ level momentum is currently regaining. 

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The RSI indicates that there is still potential for upward momentum without immediately causing selling pressure because it is currently trading just below the overbought zone. The volume profile has been muted during the recent bounce indicating accumulation rather than distribution which adds interest to this setup. 

A sharp increase in trading volume once the breakout starts could occur if this pattern recurs. It is imperative to remember that past performance does not necessarily indicate future actions. Although historically the EMA squeeze has resulted in volatility breakouts, direction is important and if the $180 level is not regained a retest of $162 or lower may occur.

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