Ripple (XRP) Price Could Rise Above $3

The XRP price is trying hard to break above the consolidated range, and it has remained stuck for over a month. The latest rebound substantiates the bullish claim but simultaneously suggests the possibility of a bull trap as the bears remain extremely vigilant. Therefore, the XRP price rally may, however, break above the current consolidation but eventually may face a rejection.

The daily chart of XRP suggests the price is attempting to breach the resistance of a bullish pennant. Meanwhile, the token also displays the possibility of a bearish divergence, which indicates the possibility of a bullish trap as the MACD indicates a drop in the selling pressure. while the levels are about to undergo a bullish crossover. Besides, the Ichimoku cloud, which remains in the bullish zone, may further undergo a bullish crossover. Therefore, the XRP price is expected to breach the resistance of the pennant in the next few hours and reach the immediate resistance at $2.68. If it fails to do so, it may remain consodliated within the pattern, above $2 until it reaches the apex. $XRP