After a prolonged period of consolidation, XRP has captured investor attention due to significant movements in the cryptocurrency market. This article explores the technical aspects and current trends for the XRP token.
Technical Analysis of XRP
In the past two weeks, XRP has broken out of a descending wedge and transitioned to a new market structure, flipping key resistance levels into supports.
XRP's Status Against USD
The XRP/USDT chart shows a powerful breakout above $2.30 after months of sideways action. The price broke above a level that previously acted as a supply ceiling.
XRP's Status Against BTC
The XRP/BTC pair also confirms the momentum shift. The price has broken out of a falling wedge and confirmed the 2,200 SAT range as support.
The current rally in XRP may mark the beginning of a new trend in the market, although short-term corrections are possible, and investors should closely monitor support levels.
