Ripple Price Analysis: XRP Seems Ready to Break Out of Consolidation Phase
XRP remains in a prolonged consolidation phase, trading within channels across both its USD and BTC pairs. The structure is tightening, signalling an imminent breakout. However, momentum has cooled, and the market is awaiting a catalyst.
Technical Analysis
The USDT Pair
XRP/USDT continues to respect the boundaries of a large descending channel. The price recently failed to break above the $2.60–$2.80 resistance zone, which aligns with the upper trendline of the pattern. On the downside, the $2.10-$2.30 support area remains critical, especially with both the 100-day and 200-day moving averages holding below the price in this range.
A confirmed breakdown of this level could open the door for a retest of the $1.90 zone, while a breakout above $2.60 may push the price toward the $3.20 region. Meanwhile, the RSI sits around 50%, indicating a neutral stance with a slight bearish bias.
The BTC Pair
XRP/BTC is compressing within a falling wedge, currently trading just above the 2100 SAT support area. The pair recently got rejected from the 2500 SAT resistance zone, which overlaps with the wedge’s upper trendline and the 100-day moving average.
The 200-day MA near the 2300 SAT mark has also been broken to the downside, making further downside and breakdown of the 2100 region highly probable. The RSI also shows values around 40%, signaling that the bearish momentum is still in play. So, unless buyers step in soon, a breakdown from the wedge pattern could trigger further Ripple weakness against Bitcoin, which could also translate to a downtrend against the dollar.
The post Ripple Price Analysis: XRP Seems Ready to Break Out of Consolidation Phase appeared first on CryptoPotato.
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Crypto Analyst Explains XRP Price Roadmap To $37 As Bears Fight For Control
Ripple Price Analysis: XRP Seems Ready to Break Out of Consolidation Phase
XRP remains in a prolonged consolidation phase, trading within channels across both its USD and BTC pairs. The structure is tightening, signalling an imminent breakout. However, momentum has cooled, and the market is awaiting a catalyst.
Technical Analysis
The USDT Pair
XRP/USDT continues to respect the boundaries of a large descending channel. The price recently failed to break above the $2.60–$2.80 resistance zone, which aligns with the upper trendline of the pattern. On the downside, the $2.10-$2.30 support area remains critical, especially with both the 100-day and 200-day moving averages holding below the price in this range.
A confirmed breakdown of this level could open the door for a retest of the $1.90 zone, while a breakout above $2.60 may push the price toward the $3.20 region. Meanwhile, the RSI sits around 50%, indicating a neutral stance with a slight bearish bias.
The BTC Pair
XRP/BTC is compressing within a falling wedge, currently trading just above the 2100 SAT support area. The pair recently got rejected from the 2500 SAT resistance zone, which overlaps with the wedge’s upper trendline and the 100-day moving average.
The 200-day MA near the 2300 SAT mark has also been broken to the downside, making further downside and breakdown of the 2100 region highly probable. The RSI also shows values around 40%, signaling that the bearish momentum is still in play. So, unless buyers step in soon, a breakdown from the wedge pattern could trigger further Ripple weakness against Bitcoin, which could also translate to a downtrend against the dollar.
The post Ripple Price Analysis: XRP Seems Ready to Break Out of Consolidation Phase appeared first on CryptoPotato.
Read More