XRP Poised for Major Move Next Week

Ripple Price Analysis: XRP Poised for Potential Shift

Ripple’s XRP token is exhibiting signs of stabilization following a significant downturn from its recent peaks. However, the cryptocurrency’s recovery is being constrained by a series of resistance zones that continue to draw in sellers. While buyers have managed to defend recent lows, the market awaits a clear structural breakout to signal a more robust upward movement.

On the daily chart, XRP is trading within a broader descending channel that has dictated its price action for months. A recent rebound from the demand zone between $1.02 and $1.04 has provided some recovery, but this move has not yet altered the prevailing bearish structure.

The primary hurdle for buyers remains the supply zone situated between $1.17 and $1.2, which lies close to the upper boundary of the descending channel. A decisive breach above this area could pave the way for the next resistance level around $1.28. Nevertheless, as long as XRP trades below this threshold, the current recovery might be interpreted as a corrective phase within a larger downtrend.

A rejection from the current resistance could push the price back towards the support region between $1.05 and $1.07. A more substantial decline would then bring the buyers’ base at $1.02 to $1.04 back into play.

Short-Term Outlook and Key Levels

The 4-hour chart illustrates the ongoing battle between buyers striving to establish a foothold and sellers actively defending overhead supply. XRP recently attempted to push towards the resistance zone between $1.16 and $1.18 but failed to achieve a breakout, leaving its short-term structure vulnerable.

The $1.16 to $1.18 supply range continues to act as a significant barrier, with price action still struggling to reclaim territory above it. Until XRP breaks through this price region and confirms sustained strength, upward attempts are likely to encounter persistent selling pressure.

On the downside, the lower trendline of the ascending wedge represents the critical support area. Maintaining a position above this zone would preserve the potential for further recovery attempts, whereas a breakdown below it would undermine the current setup and heighten the risk of additional declines.