XRP trades near $1.42 after a sharp August rally stalled below the $1.45-$1.54 resistance zone. The token continues to hold above its long-term moving average near $1.27, keeping the recovery structure intact, but a descending channel on the 4-hour chart still caps the upside.
XRP sits just under a key supply zone after rejecting a rally that pushed it as high as roughly $1.70 following a breakout from the $0.94-$0.97 support area. The token now trades around $1.42, unable to reclaim the $1.45-$1.54 resistance band above it.
Daily Chart Holds Above the 200-Day EMA
XRP continues to hold above its long-term moving average near $1.27, which has flattened after previously trending lower. As long as that level holds, the recent pullback still counts as consolidation after an impulsive rally rather than a reversal.
A daily close above the $1.45-$1.54 resistance zone would strengthen the bullish case and could bring the $1.70 high back into focus. Losing the $1.27 support, however, would weaken the structure and raise the odds of a deeper retracement toward the lower moving average around $1.15.
4-Hour Chart Shows a Descending Channel
The shorter-term picture is more constrained. A descending channel has contained XRP since the initial surge, and the token has repeatedly failed to clear the channel's upper boundary, which now converges with the $1.45-$1.54 resistance zone.
XRP's latest rebound came from around $1.34, bringing the token back toward $1.42, directly beneath that descending resistance. A breakout above the trendline followed by a reclaim of $1.45 could signal the correction is ending, with the $1.50-$1.54 zone becoming the next hurdle. Another rejection, though, would send the token back toward the $1.34-$1.38 area, with the channel's lower boundary approaching the $1.27-$1.30 support region.
Until the descending channel breaks, XRP's short-term path looks more like continued consolidation than an immediate bullish continuation.
Source: CryptoPotato
Trading involves risk.
Risk Disclaimer
