XRP Analysis The Daily Chart X

XRP Analysis

The Daily Chart

XRP has successfully broken out of a prolonged descending wedge pattern, a strong bullish signal. This breakout occurred at the critical $2.36 level, where the wedge’s upper boundary intersected with the 200-day moving average. This move marks a shift in market sentiment and opens the door for further upward momentum.

However, XRP now faces significant resistance at the previous major swing high of $2.47, a zone where notable selling pressure is likely to emerge. As a result, the price is expected to consolidate in the short term between the $2.36 breakout level and the $2.47 resistance until a clear pullback is completed and buyers regain control.