XRP Enters Final Stages of Symmetrical Triangle Convergence…Cardano and Hyperliquid Continue to Rebound

▲ XRP (XRP)/ChatGPT generated image ©

As XRP (Ripple) approaches the apex of a symmetrical triangle pattern, poised for a directional breakout, Cardano (ADA), which has risen over 25% in the past week, and Hyperliquid (HYPE), which has maintained its 200-day moving average, are continuing their recovery.

According to investment media FXStreet on August 4 (local time), XRP traded above $1, moving within a symmetrical triangle between an ascending support line and a descending resistance line. While the technical outlook was mixed, Cardano and Hyperliquid maintained their recent rebounds, showing relatively strong trends.

XRP is above the ascending trendline at $1.0510, but the descending trendline at $1.1123 and the 50-day exponential moving average (EMA) at $1.1194 are limiting its upside. The Relative Strength Index (RSI) is around 45, a neutral level, and the Moving Average Convergence Divergence (MACD) is approaching its signal line, suggesting a potential bullish crossover. A break below $1.0510 could lead to a drop to $0.9945, below $1. Conversely, a breakout above the supply zone of $1.1123-$1.1194 opens the possibility of testing the next resistance at $1.1568.

Cardano has rebounded over 25% in the past 7 days, approaching $0.2000. It has recovered the 50-day EMA at $0.1755 and broken above the previous descending trendline at $0.1735, turning both price points into new support levels. The RSI is at 67, nearing the overbought zone, and the MACD has risen above its signal line, indicating bullish momentum. However, the 200-day moving average, which limits long-term trends, is at $0.2700, and the February 6 low of $0.2250 could act as resistance during the short-term ascent.

Hyperliquid has risen for three consecutive trading days, maintaining above its 200-day EMA at $50.78. While a bearish structure remains in the short term, being below the 50-day moving average at $59.58, downward pressure is easing. The MACD and its signal line are approaching a bullish crossover, and the RSI has rebounded from around 39. Key resistance levels on the upside are the 50% Fibonacci retracement zone at $57.55 and $59.58, while support levels on the downside are $50.79 and the 23.6% Fibonacci zone at $47.32.

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