Calm before the storm for XRP? Price Looking to Resume Rally Above $1.6 (Ripple Price Analysis)

Ripple’s recent price action reflects a state of indecision following a rejection of the $1.6 resistance level. The market is currently in a low-volatility consolidation phase, indicating a possible continuation of the short-term corrective phase.

By Shayan

The daily chart

XRP’s impulsive uptrend broke several critical resistance levels, culminating in a significant rally towards the $1.6 resistance zone.

This level marked a peak in the bullish momentum, which led to a rejection and subsequent consolidation. Since then, the price has retreated towards the $1.3 threshold, a key support level, reflecting buyers’ efforts to maintain the uptrend.

However, the market is currently in a phase of indecision, characterized by low volatility fluctuations. The RSI indicator also highlights an overbought condition, further supporting the likelihood of a continuation in the consolidation stage. This phase is expected to persist in the short term, with an eventual break necessary to define the next direction.

Source: TradingView The 4-hour chart

In the 4-hour period, XRP price action still maintains a bullish structure, marked by a sequence of higher highs and higher lows. The formation of an expanding wedge pattern reflects the dominance of buyers up to the $1.6 resistance region, where the price experienced a rejection.

This has led to the appearance of a bullish flag pattern, which suggests the possibility of a continuation of the previous uptrend if the price breaks above its upper limit.

With the cryptocurrency now approaching the critical support level of $1.3, the consolidation stage could end in the medium term. A break above the flag could see XRP retest the $1.6 threshold, with further gains likely if resistance is breached.

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