The price of Ripple's XRP is going through an uncertain market period as it lacks clear momentum and direction. The price of the popular altcoin has recently reached a critical and narrow range, making a breakout necessary for #XRP to establish a clear trend.

XRP Chart Analysis on Daily Timeframe

A detailed look at the daily chart of XRP shows that the price is trapped in a critical range with key resistance at $0.55 and important support at $0.47. This has led to long-term horizontal price movement. This pattern is similar to the one observed from August to November 2023 before XRP experienced an impulsive rise towards the resistance level at $0.73. During this period, XRP coin showed strength by crossing both the 100-day and 200-day moving averages.

Currently, XRP is facing a similar formation in the same range and is struggling to break through a key resistance zone that includes the upper limit of the range and the 200-day moving average. If buyers manage to break through this critical zone, it could lead to a permanent uptrend. However, a rejection seems more likely in the short term given the current supply and lack of strong bullish pressure.

XRP Chart Analysis on Four-Hour Timeframe

On the four-hour chart, the price of XRP is experiencing extremely low volatility and market activity, resulting in muted price action. This shows that there is uncertainty in the market regarding the price trajectory of XRP. The price reached a narrow range bounded by the 0.5 Fibonacci level ($0.5310) and the lower boundary of the ascending wedge at $0.51.

A break below the formation's lower trend line could lead to a decline towards the static support at $0.48. This scenario suggests that if the price fails to maintain its current range, it may experience a downside correction by testing lower support levels.

In the opposite scenario, if the buyers manage to move the price above the 0.5 Fibonacci level, the next target will be the 0.618 Fibonacci level ($0.5574) in the short term. This scenario suggests that a successful break above current resistance levels could lead to a new uptrend, with the altcoin targeting higher price levels.