Ripple’s XRP remains trapped beneath a major technical barrier despite recovering from its late June lows. The recent rebound has improved short-term sentiment, but the price is now approaching an area where buyers must absorb significant overhead supply before a broader trend reversal can be considered.
Ripple Price Analysis: The Daily Chart
The daily chart shows XRP continuing to trade within a well-defined long-term descending channel. Although the recent rebound has lifted the asset away from the $1.02 to $1.05 demand zone, the broader structure still favors sellers while the asset remains below the channel’s upper boundary and the major moving averages.
The immediate hurdle sits inside the $1.24 to $1.29 resistance zone, where the upper channel boundary converges with the 100-day moving average. This confluence makes the area particularly important, as a rejection here would reinforce the prevailing downtrend.
A successful breakout above this region would expose the 200-day moving average next, but buyers first need to reclaim the current resistance cluster before a more constructive outlook can develop.
On the downside, the $1.02 to $1.05 demand zone remains the primary support. Losing this area would likely shift momentum back toward the broader bearish trend.
XRP/USDT 4-Hour Chart
The 4-hour chart paints a more constructive short-term picture. XRP has managed to reclaim the descending trendline that capped the price action throughout July and is now consolidating directly beneath the $1.16 to $1.18 supply zone.
This resistance has repeatedly rejected bullish attempts in recent weeks, making it the key level to monitor. A decisive breakout above $1.18 could trigger a move toward the daily resistance around $1.24 to $1.29, while another rejection would likely send the price back to retest the broken trendline as initial support.
As long as the asset continues to hold above the reclaimed trendline, buyers retain a modest short-term advantage. However, the broader trend will remain neutral to bearish until the price establishes acceptance above the overhead resistance cluster.
The post Ripple Price Analysis: XRP’s Recovery Is a Trap Until This Happens appeared first on CryptoPotato.
