Can XRP’s Momentum Sustain After 8% Daily Rise?

Ripple has displayed low market activity, as evidenced by its moderate price movement for a while before a sudden rise to $2.6 yesterday.

The price remains confined in a sideways wedge pattern, highlighting a phase of consolidation and indecision. A decisive breakout is necessary to establish sustainable 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 surrounding President Trump’s transition to the White House. XRP price remains stuck in a wedge pattern and hovering between $2 and $3, although it surged to $2.6 last night.

A breakout 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 significant declines.

The 4-hour chart

On a 4-hour time frame, Ripple found support at the 0.5 Fibonacci level ($2), causing a slight upward movement. However, the price has now entered a phase of low volatility without a clear directional bias.

Ripple faces 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 could see a bullish spike. However, if sellers push the price below this key support zone, the market could face prolonged liquidations, leading to a substantial decline.