A crypto analyst has shared insights suggesting that XRP is on the verge of breaking out of a long trading range as its consolidation phase nears completion.
Ripple XRP Price Consolidation Phase and Price Levels
XRP has shown a pattern of price stability within two significant price ranges. The first range lasted about 1,000 days, with prices between $0.20 and $0.80. A broader range spanned 2,500 days, reaching up to $3.30, last seen in 2018. Currently, XRP is trading at $1.1237 and is testing the upper boundary of the 1,000-day range near $0.80. Breaking this resistance level could propel the token toward the $3.30 mark, marking a substantial event for investors.
Key Support and Resistance Zones
Key support levels for XRP include the $0.20–$0.30 range, which has historically provided stability during bearish trends. Mid-range support at $0.50–$0.60 has also served as a foundation for upward rebounds. On the resistance side, $0.80–$1.00 remains a crucial barrier before targeting higher price zones. The $3.30 level, aligning with XRP's 2018 peak, is another significant resistance zone. Analysts suggest that clearing this level could lead to new price discoveries.
Investor Expectations and Market Activity
As XRP nears the culmination of its consolidation, traders are preparing for a potential breakout. Current market activity, declining trading volume, and indicators like the weekly RSI and EMA levels suggest building bullish momentum, further supporting the case for a rally.
Investors closely watch key resistance levels and market activity as XRP positions itself for what many believe could be its next major move.
