Can XRP’s Momentum Be Sustained After 8% Daily Rise?

Ripple showed low market activity as reflected in its subdued price action for a while before a sudden surge to $2.6 yesterday.

The price remains bounded within a sideways wedge pattern, highlighting a phase of consolidation and indecision. A decisive breakout is needed to establish sustained market direction.

XRP analysis

By Shayan

The daily chart

Ripple’s current low volatility indicates a lack of trading interest, potentially linked to broader macroeconomic factors such as uncertainty over President Trump’s transition to the White House. The price of XRP remains trapped within a wedge pattern and fluctuates between $2 and $3, although it jumped to $2.6 yesterday evening.

A break of this range is crucial as it will likely dictate Ripple’s long-term trend. A bullish breakout could trigger a rally, while a bearish breakout could lead to major declines.

The 4 hour chart

In the 4-hour period, Ripple found support at the Fibonacci level 0.5 ($2), which led to a small upward movement. However, the price has now entered a phase of low volatility without a clear directional bias.

Ripple is facing significant support near the 0.5 ($2) and 0.618 Fibonacci levels, which have served as strong defenses for buyers in recent months. If buyers manage to defend this region, XRP may experience a bullish surge. However, if sellers push the price below this key support zone, the market could face long sell-offs, leading to a substantial decline.

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