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06/11 07:46

The Daily Chart :- Ripple is currently trading wi

The Daily Chart :-

Ripple is currently trading within a narrow consolidation zone, caught between the 100-day and 200-day moving averages, an indication of minimal volatility and indecision in the market.

Following a dip below both MAs, XRP found solid buying support near the $2.1 level, prompting a bullish reversal. The price has since climbed back above the 100-day MA at $2.2, signaling early signs of recovery. However, upside momentum remains limited, as XRP now faces resistance at the 200-day MA around $2.35.

A decisive break above this level could trigger a fresh wave of buying pressure, propelling the price toward the upper boundary of the long-standing wedge pattern near $2.5. For now, subdued momentum suggests a higher likelihood of short-term consolidation within this tight range. A breakout, either above resistance or below support, will likely define the next major directional move.

The 4-Hour Chart :-

Zooming into the 4-hour chart, XRP shows clear signs of a bullish reversal after rebounding strongly from the key $2.1 support zone. This move led to a breakout above a short-term descending price channel, reinforcing the potential for further upside.

Currently, the asset is testing a critical resistance level at $2.3, where notable supply pressure is expected. A successful breakout and retest of this level would pave the way for a rally toward the $2.5 target. Conversely, failure to breach $2.3 could result in a short-term rejection and a corrective pullback.

The upcoming price action around the $2.3–$2.35 region is crucial. A confirmed breakout will likely act as a catalyst for the next bullish leg, while a rejection could keep XRP locked in a consolidation phase.XRP-4H-1-scaled.webp

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