Ripple Price Analysis: Consolidation Almost Over, XRP Prepares for a Big Move
Ripple remains trapped within a tight range between its 100-day and 200-day moving averages, signaling an imminent breakout. The direction of this breakout will be crucial in determining the cryptocurrency’s next major trend.
XRP Analysis
By Shayan
The Daily Chart
Following a rebound from the crucial 200-day moving average at $1.7, Ripple (XRP) has entered a low-volatility consolidation phase, trading within a very tight range. This range is defined by the dynamic 100-day and 200-day moving averages, currently positioned at $2.4 and $1.9, respectively, reflecting market indecision.
Notably, the 100-day MA at $2.4 aligns with the upper boundary of a prolonged descending wedge pattern. A confirmed breakout above this level could mark a significant bullish shift, potentially initiating a fresh upward leg toward higher resistance zones.
The 4-Hour Chart
On the lower timeframe, XRP has recently invalidated a breakout attempt above its prior swing high at $2.2, forming what appears to be a bull trap. This has led to continued sideways price action, signaling an ongoing equilibrium between buyers and sellers.
A decisive breakout above the $2.2 line would establish a new higher high and likely confirm a bullish market structure shift. This would set the stage for a rally toward the $2.5 resistance, which corresponds with the upper boundary of the descending wedge.
Conversely, if Ripple fails to overcome this key boundary, a retracement toward the critical $1.7 support zone becomes increasingly probable.
The post Ripple Price Analysis: Consolidation Almost Over, XRP Prepares for a Big Move appeared first on CryptoPotato.
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Why Is Ripple’s (XRP) Price Up Today?
Ripple Price Analysis: Consolidation Almost Over, XRP Prepares for a Big Move
Ripple remains trapped within a tight range between its 100-day and 200-day moving averages, signaling an imminent breakout. The direction of this breakout will be crucial in determining the cryptocurrency’s next major trend.
XRP Analysis
By Shayan
The Daily Chart
Following a rebound from the crucial 200-day moving average at $1.7, Ripple (XRP) has entered a low-volatility consolidation phase, trading within a very tight range. This range is defined by the dynamic 100-day and 200-day moving averages, currently positioned at $2.4 and $1.9, respectively, reflecting market indecision.
Notably, the 100-day MA at $2.4 aligns with the upper boundary of a prolonged descending wedge pattern. A confirmed breakout above this level could mark a significant bullish shift, potentially initiating a fresh upward leg toward higher resistance zones.
The 4-Hour Chart
On the lower timeframe, XRP has recently invalidated a breakout attempt above its prior swing high at $2.2, forming what appears to be a bull trap. This has led to continued sideways price action, signaling an ongoing equilibrium between buyers and sellers.
A decisive breakout above the $2.2 line would establish a new higher high and likely confirm a bullish market structure shift. This would set the stage for a rally toward the $2.5 resistance, which corresponds with the upper boundary of the descending wedge.
Conversely, if Ripple fails to overcome this key boundary, a retracement toward the critical $1.7 support zone becomes increasingly probable.
The post Ripple Price Analysis: Consolidation Almost Over, XRP Prepares for a Big Move appeared first on CryptoPotato.
Read More