XRP has been trading in a range since 2022, setting the stage for a breakout with a 130% gain if it breaks above $0.65 and retests this level. The next area of interest would be the $1.55 resistance.
The weekly XRP chart is forming a symmetrical triangle pattern, indicating price compression towards a decisive breakout. The upper trendline of the triangle has been sloping down since mid-2021, while the lower trendline acts as ascending support.
The major support level is at $0.12145 and the resistance level is around $1.55720, showing important zones that could limit or boost XRP’s movement based on the breakout direction.
Source: TradingView
RSI, which is also forming a triangle pattern, reflects consolidation in price action. RSI has maintained its long-term uptrend line, meaning that buying momentum is building despite the price consolidation.
#MarketDownturn #write2win #btc #bnb #xrp $XRP
