NewsletterXRP Price Analysis: Investors Need $0.38 Breakout to End Price Consolidation
The Ripple (XRP) price trapped within the $0.388 and $0.318 barriers indicates a narrow range. However, as a support trendline of ascending triangle pattern squeezing this price spread thinner, the altcoin soon provided a decisive breakout. Completing this pattern will bring a direction move for XRP/USDT pair.
Key points:
- The XRP price needs ascending triangle pattern breakout to escape the current consolidation
- The support trendline offers dynamic support to the recovery rally
- The intraday trading volume in the XRP is $912 Million, indicating a 14% loss.
Source- Tradingview
Over the past two months, the $0.388-$0.315 supply zone has prevented the bullish trend from rising any further. However, as the overall market sentiment is improving, the XRP/USDT chart show a series of higher lows, indicating growth in underlying bullishness.
Connecting these aforementioned lows with the trendline, the technical chart reflects an ascending triangle pattern. Furthermore, rising under the influence of this pattern, the price action is now wavering just below the neckline resistance of $0.388.
The XRP price consolidating within $0.388 and $0.318 for nearly three weeks indicates a no-trading zone. Furthermore, the long-wick rejection candle on both ends indicates uncertainty among market participants.
Thus, the buyers need to breach the overhead resistance and provide a candle closing above it to trigger the bullish pattern. The post-breakout rally may surge the XRP price 21% higher to tag the $0.46 mark.
On a contrary note, a breakdown from the support trendline will offset the bullish thesis and encourage a significant correction. Losing this support, the XRP may plunge back to the $0.3 mark.
Technical Indicator
DMAs: the XRP buyers obtain potential support as the price breached the 100 DMA slope. Moreover, a bullish crossover between the 20 and 100 DMA may encourage the bullish momentum for a $0.388 breakout.
MACD indicator: the multiple crossovers between the fast and slow lines accentuate the current consolidation. However, these slopes move the neutral zone, indicating the buyers have the upper hand.
- Resistance levels: $0.388-$0.315 and $0.42
- Support levels: $0.36 and $0.33
- Breaking: Labor Department Cancels October PPI Inflation Report Ahead of FOMC Meeting
- FOMC Meeting: Fed Expected to Approve Rate Cut on Dec. 10
- Bernstein Declares Bitcoin’s Four-Year Cycle Dead, Predicts $1M Target for BTC
- Breaking: Tether’s USDT Secures New Abu Dhabi Global Market Approval After Ripple’s RLUSD
- Ethereum Sees Fresh Tailwind as BlackRock Files for Staked ETH ETF
- Solana Price Set for $150+ as Bullish Sentiment Rises in Crypto Market
- Shiba Inu Price Eyes a Rebound as Exchange Supply Nosedives by 53 Trillion
- Dogecoin Price Prediction: Will $0.30 Be Next Target for DOGE?
- Top 3 XRP Price Predictions for December 2025: Could It Reach These Levels?
- Here’s Why Bitcoin Price Will Rally To $100k This Week
- Bittensor Price Breaks Above $300, Eyeing a 50% Surge Ahead of Halving
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
