Ripple has broken out of a prolonged descending wedge pattern, signaling a bullish shift. However, with significant resistance ahead, the price may enter a period of sideways accumulation before the next major move.
Daily Chart
XRP has successfully broken out of a prolonged descending wedge pattern, a strong bullish signal. This breakout occurred at the important level of $2.36, where the upper boundary of the wedge intersects with the 200-day moving average. This move marks a shift in market sentiment and opens up opportunities for further upward momentum.
However, XRP is currently facing significant resistance at the previous major swing high of $2.47, a zone where considerable selling pressure may emerge. Therefore, the price is expected to accumulate in the short term between the breakout level of $2.36 and the resistance threshold of $2.47 until a clear retracement is completed and buyers regain control.
4-Hour Chart
In lower time frames, Ripple has strongly broken above the resistance level of $2.3, a threshold that has limited price action several times in recent months. This breakout is accompanied by strong momentum, with the formation of large bullish candles reinforcing the shift.
However, XRP is currently approaching a significant supply zone and bearish order block between $2.42 and $2.47, coinciding with the previous peak. This area may act as a short-term barrier, potentially triggering a retracement or temporary rejection.
At the same time, the buying liquidity above this level is an attractive target for smart investors. Therefore, Ripple's behavior around this important level may determine the next move, either a bullish breakout continuing towards higher resistance levels or a rejection and return to lower support areas.