The 4-Hour Chart :-
The 4-hour chart highlights Ripple’s price oscillating within an ascending wedge pattern for nearly three months, with a substantial resistance level repeatedly thwarting upward movements. This key resistance includes the 0.5 ($0.5310) and 0.618 ($0.5574) Fibonacci retracement levels, which are areas of significant supply and selling pressure.
Recently, the asset has reached this critical juncture, experiencing increased volatility and rejections. If buyers manage to overcome this crucial resistance, a new bullish rally could target the wedge’s upper boundary at $0.58.
However, a more likely scenario involves a bearish rejection at this level, potentially triggering another decline towards the wedge’s lower boundary. In summary, the market remains uncertain, with a breakout necessary to determine Ripple’s future direction.
