XRP’s post-rally cooldown continues to take shape, with the asset struggling to convert its August surge into a renewed impulsive advance. The price remains trapped within a corrective structure, leaving the next breakout as the key signal for determining whether buyers can regain control.
Ripple Price Analysis: The Daily Chart
On the daily timeframe, XRP is trading around $1.40 after the explosive move from roughly $1.00 toward $1.55. Since that rally, however, the market has transitioned into a descending channel, producing a sequence of lower highs while volatility gradually contracts.
The latest rebound from the $1.32-$1.35 support area was rejected near $1.48, where the price also encountered the channel’s upper boundary. This rejection reinforces the descending trendline as the main technical obstacle. At present, that resistance is approaching the $1.43-$1.45 area.
Therefore, a confirmed daily breakout above the channel could represent an important bullish structural shift. In that case, XRP could initially challenge the previous $1.48-$1.55 highs before potentially targeting the major $1.61-$1.70 resistance zone.
On the downside, the $1.33-$1.36 region remains the nearest significant support. A breakdown below this area would weaken the recovery scenario and could expose the lower channel boundary, which is gradually converging toward the broader $1.22-$1.27 demand zone.
XRP/USDT 4-Hour Chart
The 4-hour chart shows the corrective structure more clearly. XRP recently bounced strongly from the $1.34-$1.36 support zone and rallied toward $1.48, but buyers were unable to break through the descending channel resistance. The rejection has since returned the price to approximately $1.40.
This leaves XRP caught between the $1.34-$1.36 support zone and descending resistance around $1.43-$1.45. A breakout above the latter would be the first meaningful indication that short-term momentum is shifting back toward buyers, potentially opening the path toward $1.48 and then $1.53-$1.55.
Conversely, another rejection followed by a loss of the $1.34-$1.36 support area would favor continuation of the correction. In that scenario, the lower boundary of the descending channel could become the next target, with the larger $1.22-$1.27 support zone providing a more substantial area of demand underneath.
For now, XRP remains in a corrective phase rather than a confirmed bearish breakdown. The reaction at the channel boundaries should provide the clearest indication of the next directional move.
The post Ripple Price Analysis: XRP Trapped in Descending Channel as Key Levels Loom appeared first on CryptoPotato.
Source: https://cryptopotato.com/ripple-price-analysis-xrp-trapped-in-descending-channel-as-key-levels-loom/
