Ripple Price Analysis: XRP Looks Bullish Against USD but the BTC Pair Tells a Different Story
XRP has staged a sharp recovery from its August lows against USDT, breaking above the descending large channel and reclaiming key moving-average levels. However, the rally has now reached a major resistance area around $1.50, while momentum is beginning to cool down.
The broader structure is therefore improving, but the token still needs a sustained breakout above this supply zone. Meanwhile, the XRP/BTC pair is also lagging behind, which is a notable development to watch.
Ripple Price Analysis: The USDT Pair
XRP spent much of the year trading inside a broad descending structure, with the descending trendlines defining the dominant downtrend. The latest move represents a significant structural shift, as price surged from around $1.00 and decisively broke above the upper descending trendline as well as the 100-day and 200-day moving averages, located around $1.15 and $1.30 levels, respectively.
The breakout pushed XRP to a local high with a long wick near $1.70 before the price retraced sharply. XRP is currently trading around $1.41, meaning the initial breakout impulse has already undergone a meaningful correction.
โฆ Continue reading the full article at the original source below.
