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Ripple Price Analysis: Has XRP Run Out of Juice After 9% Weekly Rally?

Ripple has reached a notable price range at the $2.4 mark, aligning with a confluence of key resistances. Considering the insufficient bullish momentum, the price is expected to face selling pressure, likely leading to a sideways consolidation, before any breakout emerges.

XRP Analysis

Дневной график

XRP has recently retraced upward, testing the critical $2.4 resistance level, an area that aligns with the upper boundary of a long-standing wedge pattern. Despite this bullish attempt, the momentum appears weak, with no convincing signs of sustained buying strength. This $2.4 zone also coincides with the 100-day moving average, reinforcing it as a robust supply area and making it a challenging barrier for bulls to overcome.

Given the lack of sufficient market demand and momentum, a rejection from this level is likely, setting the stage for a period of sideways consolidation. Broader market structure indicates that Ripple remains confined between the 100-day and 200-day MAs. A decisive breakout from this range is essential for the market to gain clear direction and witness an impulsive move, either to the upside or downside.

Четырехчасовой график

On the lower time frame, XRP’s waning bullish momentum becomes more apparent as the price approaches the significant $2.4 mark. Here, the formation of a potential three-drives pattern suggests buyer exhaustion. The $2.4 level has served as both support and resistance multiple times during the recent consolidation phase, emphasizing its psychological importance.

Even if Ripple manages to break above $2.4, the next immediate hurdle lies at the wedge’s upper boundary around $2.5. Only after reclaiming both these levels can buyers aim for the crucial $3 psychological threshold. In the short term, however, a minor pullback seems likely before bulls can mount a stronger attempt to push higher.

Пост Ripple Price Analysis: Has XRP Run Out of Juice After 9% Weekly Rally? появились сначала на CryptoPotato.


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