Technical analysis by CryptoPilot about Symbol XRP: Sell recommendation (8/21/2025)

XRP is currently showing signs of completing a corrective structure after its strong bullish rally earlier this year. 🔹 Technical Outlook: •Price is trading inside a long-term ascending channel. •After marking the swing high near $4.0, price seems to be unfolding a ABC corrective wave. •Currently in wave C, with potential downside extension toward the midline of the channel (~$1.9 – $2.0). •This zone also aligns with strong historical support and the 0.618 Fibonacci retracement of the last impulse (confluence area). 🔹 Possible Scenario: 1.Completion of wave C around $1.9 support. 2.Start of a major impulsive leg targeting the upper boundary of the channel around $6.5 – $7.0. 📊 Market Implication: Short-term caution is needed as corrective pressure might continue, but long-term structure still supports a bullish outlook. ✅ Conclusion: As long as XRP holds above $1.7 – $1.9 support zone, the bullish scenario remains valid. Mid/long-term traders may watch this level as a potential re-accumulation zone before the next impulsive rally.