Ripple Price Analysis: XRP Finally Nearing Key Breakout Point?
XRP has been quietly consolidating for months while the broader market experienced wild swings. However, recent price action indicates something may be brewing beneath the surface.
The asset has been holding key support levels and showing signs of accumulation against both USDT and BTC pairs.
Technical Analysis
By ShayanMarkets
The USDT Pair
XRP/USDT continues to trade inside a descending channel, showing a sequence of lower highs and lows. Recently, the price swept the sell-side liquidity below the $2 zone and rebounded with strength, and is currently testing the 100-day moving average. This liquidity sweep and bounce could signal exhaustion of bearish momentum.
The RSI is also hovering around 50, indicating a neutral bias, but the reclaim of the 100 and 200-day moving averages around $2.2–$2.4 range will open the door for a potential breakout. Yet, for a full-on bullish trend to begin, a clean break above the upper trendline of the channel and the $3 resistance zone is critical.
The BTC Pair
The XRP/BTC pair has been in a clear downtrend inside a descending channel since March. The price is now approaching the lower boundary of the channel, which aligns with a major fair value gap (FVG) around the 1,600–2,000 SAT range. This area can be expected to act as a strong demand zone.
The confluence of FVG and channel support increases the probability of a bullish reaction. While the RSI remains under 50, it has curved slightly up, suggesting a possible slowdown in bearish momentum. A breakout from the channel and a reclaim of the 2,300 SAT resistance zone could trigger bullish continuation.
However, if price fails to hold the FVG zone and breaks lower, further downside toward the 1,500 SAT mark will be highly probable.
The post Ripple Price Analysis: XRP Finally Nearing Key Breakout Point? appeared first on CryptoPotato.
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Ripple Price Analysis: XRP Finally Nearing Key Breakout Point?
XRP has been quietly consolidating for months while the broader market experienced wild swings. However, recent price action indicates something may be brewing beneath the surface.
The asset has been holding key support levels and showing signs of accumulation against both USDT and BTC pairs.
Technical Analysis
By ShayanMarkets
The USDT Pair
XRP/USDT continues to trade inside a descending channel, showing a sequence of lower highs and lows. Recently, the price swept the sell-side liquidity below the $2 zone and rebounded with strength, and is currently testing the 100-day moving average. This liquidity sweep and bounce could signal exhaustion of bearish momentum.
The RSI is also hovering around 50, indicating a neutral bias, but the reclaim of the 100 and 200-day moving averages around $2.2–$2.4 range will open the door for a potential breakout. Yet, for a full-on bullish trend to begin, a clean break above the upper trendline of the channel and the $3 resistance zone is critical.
The BTC Pair
The XRP/BTC pair has been in a clear downtrend inside a descending channel since March. The price is now approaching the lower boundary of the channel, which aligns with a major fair value gap (FVG) around the 1,600–2,000 SAT range. This area can be expected to act as a strong demand zone.
The confluence of FVG and channel support increases the probability of a bullish reaction. While the RSI remains under 50, it has curved slightly up, suggesting a possible slowdown in bearish momentum. A breakout from the channel and a reclaim of the 2,300 SAT resistance zone could trigger bullish continuation.
However, if price fails to hold the FVG zone and breaks lower, further downside toward the 1,500 SAT mark will be highly probable.
The post Ripple Price Analysis: XRP Finally Nearing Key Breakout Point? appeared first on CryptoPotato.
Read More