The analysis, conducted on August 17, 2024, focuses on XRP/USDT. The current price is $3.09, down 3% for the week. A tweezer bottom is observed, but the analyst anticipates a potential move lower to $3.00 before a rise. A one-hour chart reveals an attempt to break out, which lacks volume, suggesting lower prices are coming and venture even below $3.00 for a last time. Rejection of the overbought zone, coupled with lower highs and lows on the RSI, indicates hidden bearish divergence. The MACD is noted to have crossed above zero which is bullish, but without positive price action following through. The analyst interprets price action from August 14-17 as a horizontal channel where support and resistance levels are found before an eventual breakdown. Fibonacci retracement places the intended price target at $2.95 to $2.90. He provides technical indicators, drawing a descending channel indicating further downside with the bearish engulfing pattern. A target between 2.94 and 2.90 for August 25 is the aim.