Ripple has broken out of its prolonged descending wedge pattern, signaling a bullish shift. However, with notable resistance ahead, the price may enter a period of sideways consolidation before the next major move.
By Shayanmarkets
XRP has successfully broken out of a prolonged descending wedge pattern, a strong bullish signal. This breakout occurred at the critical $2.36 level, where the wedge’s upper boundary intersected with the 200-day moving average. This move marks a shift in market sentiment and opens the door for further upward momentum.
However, XRP now faces significant resistance at the previous major swing high of $2.47, a zone where notable selling pressure is likely to emerge. As a result, the price is expected to consolidate in the short term between the $2.36 breakout level and the $2.47 resistance until a clear pullback is completed and buyers regain control.
On the lower timeframe, Ripple has broken decisively above the $2.3 resistance, a level that has repeatedly capped the price in recent months. This breakout has been accompanied by strong bullish momentum, with the formation of large bullish candles reinforcing the shift.
However, XRP now approaches a key supply zone and bearish order block between $2.42 and $2.47, aligning with the previous swing high. This zone could serve as a short-term ceiling, potentially triggering a pullback or temporary rejection.
At the same time, the buy-side liquidity resting above this area presents an attractive target for smart money. Therefore, Ripple’s behavior around this crucial level will likely determine the next move, either a bullish breakout and continuation toward higher resistance levels or a rejection and return to lower support zones.
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