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Ripple has been trading with minimal momentum, exhibiting quiet price action above the 100-day moving average.
This low-volatility consolidation phase suggests a temporary market equilibrium, likely to persist until a decisive breakout sets the next trend direction.
$XRP Analysis
By Shayan
The Daily Chart
$XRP’s price action has remained stagnant, with minimal volatility as it consolidates above the 100-day moving average at $2.3. This tight trading range, defined by the $2.3 support and the critical $3 resistance, suggests a state of equilibrium between buyers and sellers.
The RSI indicator reinforces this indecision, hovering around the neutral level, signaling a balance of market forces. However, this consolidation phase is unlikely to persist indefinitely, and a decisive breakout in either direction appears imminent. Given current market dynamics, a bullish breakout seems more probable, potentially paving the way for a new all-time high in the coming weeks.
The 4-Hour Chart
On the lower timeframe, $XRP has repeatedly failed to break above the crucial $2.8 resistance, facing rejection and minor pullbacks. This price behavior indicates insufficient bullish momentum to sustain an upward breakout, resulting in prolonged sideways movement.
Despite this, $XRP has formed an ascending wedge pattern, with price fluctuations confined between the $2.8 resistance and the $2.4 support zone. A breakout from this formation is essential to establish the next major trend direction, determining whether Ripple can regain bullish momentum or face further consolidation.