Is XRP Approaching a Significant Breakout Point? A Price Analysis

XRP has been steadily consolidating over several months, maintaining key support levels and exhibiting accumulation signs against both USDT and BTC pairs, hinting at possible underlying developments. Technical analysis shows XRP/USDT is trading within a descending channel, demonstrating lower highs and lows. However, a recent price bounce after sweeping sell-side liquidity below the $2 mark may indicate a weakening bearish momentum.

Despite a neutral bias suggested by the RSI around 50, regaining 100 and 200-day moving averages between $2.2-$2.4 could pave the way for a breakout. Similarly, the XRP/BTC pair, on a clear downtrend since March, is nearing its channel's lower boundary, aligning with a significant fair value gap (FVG). This could act as a strong demand zone, potentially slowing the bearish momentum and triggering bullish continuation.