Outside Source
Ripple is facing critical resistance at the 100-day moving average of $2.5, where selling pressure could emerge.
The price action at this level will be crucial, as a break above this resistance could trigger a fresh surge toward its all-time high.
XRP Analysis
By Shayan
The Daily Chart
XRP remains confined within a crucial price range, with strong support at $2 and a key resistance at the 100-day moving average ($2.5). After a recent surge toward the upper threshold of this range, the asset is now facing a decisive test at $2.5, where potential selling pressure could emerge.
A successful breakout above this level could pave the way for a strong rally toward Ripple’s all-time high. However, given the presence of sellers and a relatively inactive market, a rejection followed by a pullback toward the lower boundary at $2 appears to be the more probable short-term outcome.
The 4-Hour Chart
On the lower timeframe, XRP has been consolidating within a descending flag pattern, recently finding support at its lower boundary of $2. The price has since rebounded, reaching the $2.5 resistance, which has repeatedly capped gains in recent months.
If XRP maintains its bullish momentum and breaks above the flag’s upper boundary and the $2.5 resistance, a surge toward the $3 threshold could follow. However, unless market demand significantly increases, further consolidation within this pattern remains the most likely scenario.
This article first appeared at CryptoPotato
