Ripple has confirmed a bullish breakout from its prolonged descending wedge pattern, marking a shift in market structure.
However, the price has now reached a critical resistance zone near its previous swing high, increasing the likelihood of a short-term consolidation or corrective pullback.
XRP Analysis
By Shayanmarkets
The Daily Chart
XRP has successfully broken above its prolonged descending wedge pattern and the 200-day moving average, triggering an impulsive bullish surge. This breakout marked a major shift in market sentiment, with the price rapidly climbing to test the $3 resistance, which aligns with a prior major swing high.
However, this critical price level is now acting as a formidable resistance, and selling pressure is beginning to emerge. As a result, a short-term consolidation or pullback is likely to unfold before any continuation of the uptrend. For Ripple to maintain its bullish structure and aim for a new all-time high, reclaiming and holding above the $3 threshold will be essential.
The 4-Hour Chart
On the lower timeframe, XRP decisively broke above the $2.7 resistance level — a barrier that had capped price action for several months. This breakout was accompanied by strong bullish momentum, evidenced by the formation of large bullish candles.
However, upon reaching the $3 resistance zone, the momentum faded, and a minor rejection followed. The asset has since retraced to retest the broken $2.7 level, forming a pullback structure. If buying interest resurfaces at this level, a fresh surge targeting the $3 mark is probable.
That said, if the pullback deepens, the next key support lies within the 0.5–0.618 Fibonacci retracement range, suggesting the potential for a more extended correction before the next leg upward.
The post XRP Needs to Break This Key Resistance to Target a New All-Time High: Ripple Price Analysis appeared first on CryptoPotato.
This articles is written by : Fady Askharoun Samy Askharoun
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