The cryptocurrency market is showing signs of a rebound, with altcoins inching closer to significant levels. In August 2025, altcoins reached $1.11 trillion, coming within 3.7% of their previous all-time high. The current momentum suggests that another test may be on the horizon, potentially signaling the arrival of a new altcoin season. While Ethereum once dominated the market, interest seems to have shifted towards newer projects.
Bitcoin continues to play a central role in determining market direction. The price pattern is forming what appears to be an inverted head and shoulders formation. If this pattern is confirmed, it could propel Bitcoin towards $124,000, a move that is likely to drive gains in the altcoin market as well.
XRP has been in the spotlight recently as the token trades near $2.99, showing a more than 5% increase over the past week. However, the move above $3 has been short-lived, as $3 has historically acted as a resistance level for XRP, making it a crucial point to monitor in the near future.
Strong support for XRP is currently seen around the $2.90 range, with key technical indicators such as the 200 EMA converging in this area. Previous price action has shown that this zone has served as a firm base, making it the most likely level for buyers to defend. If the price drops further, the next significant support level is at $2.84, though holding above $2.90 would decrease the likelihood of testing this lower level.
Looking ahead, if XRP stabilizes around $2.90, it could pave the way for another upward movement. The next resistance level is around $3.12, which is not considered a major obstacle, indicating that XRP could potentially break through if momentum strengthens.
In conclusion, XRP recently touched $3.30 before retracing to the $2.96 range, where it is currently consolidating. Technical indicators remain supportive, with September showing signs of a reversal from previous lows. The current price action could potentially evolve into a five-wave structure, a bullish signal if confirmed. If this scenario unfolds, XRP may target resistance near $3.36 in the short term.