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Ripple Price Analysis: Will XRP’s Consolidation End With Significant Correction?

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Ripple is approaching a key resistance zone between $2.3 and $2.35, which could cap the current uptrend. However, the price action at this critical level will be decisive in determining XRP’s next major move.

XRP Analysis

By Shayanmarkets

Dienas diagramma

XRP has recently broken above its 100-day moving average at $2.2 and completed a successful pullback. The price has now entered a decisive range between the 100-day and 200-day MAs, suggesting potential consolidation. However, it is approaching a substantial resistance zone between $2.3 and $2.35, an area that aligns with the 200-day MA at $2.36 and the upper boundary of a prolonged descending wedge pattern.

This confluence of technical resistance is expected to act as a strong barrier, potentially halting the current uptrend. A rejection from this level could initiate a corrective move. However, if the asset manages to break above this region, it could spark a fresh rally targeting the $2.5 psychological resistance.

4 stundu diagramma

In the lower timeframe, Ripple has been steadily climbing within an ascending price channel, recently finding support at the $2.2 zone, the channel’s lower boundary. The price is now approaching the long-standing $2.3 resistance level, which has historically capped upside moves.

A valid breakout above this range is essential to shift the market structure bullishly. However, based on current price behavior and historical rejections at this level, a pullback or consolidation is the more likely short-term scenario.

Amats Ripple Price Analysis: Will XRP’s Consolidation End With Significant Correction? appeared first on CryptoPotato.

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