XRP Needs to Break This Key Resistance to Target a New All-Time High: Ripple Price Analysis
2025-07-13 13:26:22
Main Idea
XRP has broken above its descending wedge pattern and the 200-day moving average, indicating a bullish surge, but faces potential consolidation or correction near key resistance and support levels.
Key Points
1. XRP broke above its prolonged descending wedge pattern and the 200-day moving average, triggering a bullish surge.
2. The breakout suggests a major shift in market structure, aiming for new highs.
3. XRP retraced to retest the $2.7 level after reaching the $3 resistance, forming a pullback structure.
4. If the pullback deepens, the next key support lies within the 0.5–0.618 Fibonacci retracement range.
5. A more extended correction may occur before the next upward movement.
Description
Ripple has confirmed a bullish breakout from its prolonged descending wedge pattern, marking a shift in market structure. However, the price has now reached a critical resistance zone near its previous swing high, increasing the likelihood of a short-term consolidation or corrective pullback. XRP Analysis By Shayanmarkets The Daily Chart XRP has successfully broken above its prolonged descending wedge pattern and the 200-day moving average, triggering an impulsive bullish surge. This breakout ma...
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