The broader crypto market is bouncing back with altcoins approaching important levels. Altcoins reached $1.11 trillion in August 2025, coming just 3.7% short of its previous record. Current levels hint another test could be near, with the possibility of an upcoming altcoin season. While Ethereum once dominated this space, interest appears to have shifted toward newer projects.
Bitcoin is still central to market direction. The price structure is forming what looks like an inverted head and shoulders pattern. If confirmed, the breakout could push Bitcoin toward $124,000. A move of that scale would likely fuel altcoin market gains.
XRP is back in focus this week as the token trades close to $2.99, up more than 5% over the past seven days. However, the move above $3 did not hold for long. The $3 mark has often acted as a ceiling for XRP, making it an important level to watch in the near term.
Current support is clustered between $2.93 and $2.90. This range lines up with several technical indicators, including the 200 EMA. Past trading shows this area has worked as a solid base, making it the most likely zone for buyers to defend.
If price slips further, the next key support sits at $2.84. Holding above $2.90 reduces the chance of testing that lower level.
If XRP steadies around $2.90, it could set the stage for another push higher. The next resistance sits close to $3.12. That level is not considered a major hurdle, meaning XRP could break through if momentum improves.
The token touched $3.30 before retracing to the $2.96 range, where it is currently holding. Technicals remain supportive, with September showing signs of a reversal from earlier lows. The current move could develop into a five-wave structure, a bullish signal if confirmed. If this plays out, XRP could test resistance near $3.36 in the short term.
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