XRP shows price consolidation in a converging triangle, with technical indicators and growing interest in the project creating premises for future growth.
Technical Analysis of XRP
Currently, XRP is trading around $2.96 after a period of sideways movement. Trading volume reaches $7.7 billion, though the asset has lost 2% in the last 24 hours. Charts indicate price compression into a triangle, which historically precedes significant moves. Past patterns show that XRP surged 474% in November and 76% in July.
Key Support Levels
Analysis shows that the $2.95 support level is crucial for further growth. If XRP remains above this level, there is potential for upward momentum. Conversely, a drop below $2.95 could confirm a WXY corrective pattern targeting $2.65.
Expanding Access to XRP
Gemini announced the launch of the XRP Credit Card, allowing users to earn rewards in XRP with no annual fee. Rewards will differ by category, offering 4% back on gas and transit, 3% on dining, 2% on groceries, and 1% on all other purchases. This product will enhance the practical use of XRP in daily life.
XRP stands on the brink of significant market movement, as both technical signals sharpen and accessibility to the asset expands through new tools like the Gemini credit card.
