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Following
XRP 
RLUSD XRP (XRP) rose about 15% overnight, hitting around $1.15, but the contradictory Elliot Wave model still pointed to a completely different trend path-from below $1 to above $9.
Key points:
XRP rose about 15% to US$1.15, returning to the US$1 mark, but there are still several resistance levels above.
The bullish wave model targets $5.8563 and $9.0362, while the bearish count forecasts targets in the range of $0.85 to $0.86.
About 23% of on-chain XRP transactions currently occur during the three-hour hours that overlap between London and New York.
The trend of XRP diverges
On August 20, it was reported that after several weeks of unstable trading, XRP once again broke through the psychologically meaningful $1 barrier. This trend makes the dollar once again the core focus of technical analysis.
Analysts pointed out that the weekly chart has formed a "triple bottom" pattern, which provides support for the bullish fifth-wave structure, with targets pointing to US$5.8563 and US$9.0362 respectively. However, these predictions are still speculative judgments.
XRP first needs to break through resistance levels around US$1.20 to US$1.30, US$1.50 and US$1.88, and a close below US$1 will weaken bullish interpretation.
Trading Data Observation
More than a week ago, when XRP was trading around $1.01 after a 2.5% drop in a single day, another analyst released a completely different counting model. The model predicts that prices will first fall to around $0.95, rebound to the $1.00 to $1.04 range, and eventually fall to $0.85 to $0.86. The analyst also cited the RSI reading of 36.62 and bearish divergence signals.
An analysis on August 18 pointed out: "The three-hour trading session every day (afternoon in London and morning in New York) now accounts for about 23% of XRP turnover on all chains. A year ago, the proportion was about 14%. "This model appears in XRPL order books, automated market maker pools, and cross-border payments. The agency also reported that the transaction volume between RLUSD (RLUSD) and XRP during the six months was approximately US$900 million.
An institution that is moving forward with a Nasdaq listing plan and received Ripple's endorsement admitted that ledger data's inability to show banks, trading desks or automated systems contributed to the change. This leaves claims about institutional needs lacking direct evidence. The agency added: "Trading on XRP will not close at 5pm. But we did see some peak periods. "
This divergence occurred after several weeks of volatile trading around $1 for XRP. When the bearish count came in, XRP was trading at about $1.01, after falling 2.5% in a single day after the Senate failed to advance the bill before recess, and then rising about 15% overnight to around $1.15. This volatility explains why $1 remains a key test for both scenarios.
