The price is currently above the 61.8% Fibonacci retracement level, which can be seen as a potential support level.XRP/USDT chart presents a short-term, bullish outlook. The price is currently above both the 8 and 13-period Simple Moving Averages (SMAs), indicating potential upward momentum.As of August 12, 2024, XRP is trading around $0.6062 with noticeable volatility. The 30-minute chart shows a neutral trend, with XRP fluctuating between key resistance at $0.618 and support at $0.590. While short-term indicators suggest a consolidation phase, the release of 1 billion XRP tokens by Ripple may cause price fluctuations. Analysts are cautiously optimistic, projecting a potential rise to $0.818 if market conditions improve