Ripple Price Analysis: Is XRP About to Break Out of Consolidation Past $3?
XRP continues to trade in a tightening range after losing momentum in September. Both USDT and BTC pairs are testing critical areas, which could decide the next major move in the coming weeks.
Technical Analysis
By Shayan
The USDT Pair
Against USDT, XRP is holding around $2.98 after bouncing from the $2.60 zone, where the 100-day MA acted as support, alongside the lower boundary of the falling wedge pattern.
The price is currently pushing into the upper boundary of a wedge that has capped upside since mid-July. A breakout above $3.00 could open the way toward the $3.60 resistance, while rejection here risks sending price back toward the 2.60 zone and the 200-day moving average located nearby, or even the lower boundary of the large ascending channel.
The BTC Pair
The BTC pair sits just above the 2,500 SAT zone, closely aligned with the Fibonacci retracement golden zone. The price is consolidating after losing steam at the 3,000 SAT level and now faces the 100-day and 200-day moving averages as critical support.
A decisive break below the 2,500 SAT area could drag the pair toward the 0.618 retracement level at the 2,350 SAT mark and possibly lower toward the imbalance located around the 2,250 SAT mark. On the upside, holding the 0.5 level and reclaiming the highs around 2,700 SAT would strengthen the case for a retest of the key high at 3,000 SAT. It is advised to remain cautious until the price shows its hand by breaking to either side.
The post Ripple Price Analysis: Is XRP About to Break Out of Consolidation Past $3? appeared first on CryptoPotato.
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