Can the Bounce in Ripple (XRP) Last?

The Daily Breakdown looks at the market’s rebound, which was helped along by a bounce in Bitcoin, Ripple and other cryptocurrencies.

Before we dive in, let’s make sure you’re set to receive The Daily Breakdown each morning. To keep getting our daily insights, all you need to do is log in to your eToro account.

Tuesday’s TLDR

  • PLTR, HIMS in focus
  • Stocks enjoy big rebound
  • XRP leads crypto bounce

What’s Happening?

Friday was a tough session, but Monday saw the dip-buyers come back in full force. US indices like the S&P 500 have only fallen slightly, but since markets have hit new record highs, it’s been our thought process that the mild pullbacks — like a 5% to 10% dip — would be bought given the strong price action over the last several months. 

Small caps led the way yesterday, with the Russell 2000 — or the IWM ETF — jumping over 2%, followed closely by tech, with the QQQ gaining 1.9%. 

It helped that Bitcoin and several alt-coin leaders — like Stellar and Ripple — had a strong rebound as well, with a nice chunk of those gains coming on Sunday, putting investors in a risk-on mood Monday morning. 

As we turn our attention to today’s events, earnings are the standout. 

Hims & Hers Health is tumbling this morning, while Palantir is knocking out new highs in pre-market trading (more on these stocks below). 

Investors are digesting the quarterly results of Caterpillar, Lemonade, Pfizer, and DigitalOcean, among others, while tonight’s earnings slate includes Advanced Micro Devices, Rivian, Super Micro Computer, and Arista Networks.

Want to receive these insights straight to your inbox?

Sign up here

The Setup — Ripple

After charging to new highs last month, Ripple pulled back to the $3 area, then began to slip lower going into the weekend. On Saturday evening, Ripple looked for a low as it neared a 25% correction from its recent highs. It found support from the 10-week moving average and the $2.70 area as buyers have now resurfaced. 

Weekly chart of XRP, for The Daily Breakdown
Chart as of 8:00 a.m. ET on 8/5/2025. Source: eToro ProCharts, courtesy of TradingView.

Now back above $3, XRP has already enjoyed a nice bounce. However, bulls will want to see support continue to hold in the $2.70 area, with its 10-week and 50-day moving averages continuing to help as well. If Ripple can get back above its prior record highs, investors will likely have the recent highs around $3.65 in mind.

What Wall Street’s Watching

BRK.B

Shares of Berkshire Hathaway fell 2.9% on Monday as the stock hit its lowest level since early February. The decline came after the company reported earnings, which included a $3.8 billion write down and a decline in quarterly operating profit. BRK.B is now down 15% from its record high earlier this year. Check out the chart for BRK.B.

PLTR

Palantir is rallying this morning after blowing past Q2 expectations and posting its first-ever $1 billion quarter. Earnings surged 77% year-over-year, driven by a 93% increase in US commercial sales and a 53% rise in government contracts. The company raised its full-year revenue outlook to $4.15 billion, citing surging AI-related demand. CEO Alex Karp called the growth “nearly without precedent,” as investors now question how long the AI tailwind can last. 

HIMS

Hims & Hers fell after Q2 revenue of $544.8 million missed expectations of $552 million. While EPS came in slightly ahead of estimates, investors zeroed in on the revenue miss and the announcement that Novo Nordisk is ending their GLP-1 collaboration. Full-year guidance was maintained, but lingering uncertainty weighed on sentiment. Dive into the fundamentals for HIMS.

Disclaimer:

Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.