XRP Could Retest Support Between $0.60 And $0.90

An analysis of XRP suggests it may be moving within an Ascending Triangle pattern on the monthly price chart. This technical analysis (TA) indicates:

  • The Ascending Triangle shows a consolidation range that narrows, with resistance at the upper line and support at the lower line.
  • A breakout above the resistance could signal a bullish trend, while a drop below the support may indicate a bearish trend.
  • XRP's price has been testing the upper boundary but faced rejection, leading to a decline.
  • Support is expected between $0.60 and $0.90, as seen in previous market conditions.

Currently, XRP trades around $1.4, experiencing a nearly 5% decrease in the past 24 hours. The potential for retesting support levels or rebounding remains uncertain.

XRP Ascending Channel