XRP consolidates within a descending channel near $2.18, with traders watching for a volume-driven breakout above $2.25 resistance.
Long-term chart shows XRP progressing through market cycles, with bullish targets at $3.40 and $6.618 based on historical patterns.
Despite short-term bearish pressure, XRP's structural support at $2.10 and tightening range signal potential for a breakout soon.
XRP consolidates within a tight range, hinting at a possible breakout. On June 8, 2025, XRP trades at $2.1826 against the US Dollar, down 1.66% from earlier sessions. This follows a minor dip of 0.27% from previous daily levels. Despite the pullback, traders observe tightening price action near key support zones. The four-hour timeframe reveals a persistent descending channel. Price remains confined within established technical boundaries, suggesting mounting pressure for a directional move. Analysts expect a breakout if volume increases near resistance.
Bearish Channel Defines Short-Term Action
XRP remains within a multi-week downtrend, forming lower highs and lower lows. The descending trendline connects multiple failed rallies since early May. Besides, the token reached a local high of $2.65 before entering this bearish phase. Significantly, price action faced multiple rejections near $2.25, reinforcing the resistance. Moreover, volume patterns highlight increased selling pressure during each retracement. The $2.10 region has acted as a reliable support, with buyers stepping in during past pullbacks.
Source: World Of Charts
However, XRP now trades closer to channel support, leaving room for potential upward movement. Consolidation near this zone builds anticipation. Still, without rising volume, a breakout may remain elusive. Additionally, technical indicators continue reflecting bearish structure across multiple timeframes. Hence, any breakout above $2.25 would require momentum confirmation.
Long-Term Chart Reflects Bullish Cycle Behavior
From a broader perspective, XRP follows distinct market cycles since 2014. The asset has moved through accumulation, breakout, correction, and recovery phases. Phase one (2014–2017) saw explosive growth, ending with highs near $3.40. Consequently, Phase two (2018–2019) corrected almost 90%, bottoming around $0.20.
Phase three (2020–2021) displayed renewed strength, lifting XRP to $1.90. Since 2022, Phase four has shown sideways action between key levels. Moreover, this range-bound behavior occurs within a triangular pattern near $2.18. Long-term projections remain bullish. TP1 targets the $3.40 zone, while TP2 stretches to $6.618. These targets rely on historical price behavior and pattern analysis.
Source: CW
Additionally, volume analysis supports these observations. While current activity remains moderate, a surge may signal trend reversal. Overall, XRP’s structure supports potential long-term gains. However, near-term breakout confirmation remains crucial.
The post XRP Eyes Breakout as Consolidation Tightens Around Key Levels appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
