On the weekly timeframe, XRP is consolidating within a well-defined bull flag, indicating possible further price movement after a recent sharp rally.
Current Consolidation Structure of XRP
XRP is currently consolidating within a bull flag formed after a sharp rally above $3.50. The lower boundary of the flag, around $1.20, serves as dynamic support, while resistance is near the upper trendline. The pattern shows a healthy retracement after the steep climb, and the tightening Bollinger Bands suggest a potential breakout from the current range.
Falling Wedge Pattern and Its Role
The daily chart reveals a bullish falling wedge, typically signaling a trend reversal. XRP is trading just below the wedge's upper boundary, with resistance at $2.23 and support around $1.87. Price movements indicate compression within this structure, and a notable squeeze in the Bollinger Bands often precedes a breakout.
Price Forecast for Today
XRP is currently trading around $2.08, with clearly defined resistance at $2.23 and support at $1.87. Current technical indicators, such as the bullish MACD crossover on the 4-hour chart and squeezed Bollinger Bands, suggest that a breakout is imminent. A breakout above the $2.15–$2.23 resistance zone could lead to a quick rally towards $2.50 or even $2.80.
Current technical patterns indicate a potential bullish move for XRP, with key support and resistance levels determining further price fluctuations.
