Consolidation almost through, XRP is preparing for a big move

Ripple remains trapped between 100 days to 200 days of moving mediums, signaling the imminent breakthrough. The direction of this breakthrough is crucial to determining the next main trend of cryptocurrency.

XRP analysis

Author Shayan

Daily chart

After a $ 200-day moving average setback of $ 1.7, Ripple (XRP) has reached a low volatility consolidation phase, trading in a very tight range. This range is defined by dynamic 100-day and 200-day moving average, currently positioned for $ 2.4 and $ 1.9 respectively, reflecting market indecision.

Namely, I am 100 days with a price of $ 2.4 aligned with a long-term descending wedge pattern. Higher -ended breakthrough than this level can mark an important bullish shift, starting with fresh upwards towards the higher resistance zones.

4-hour chart

In a lower period of time, the XRP is a recently revoked attempt, which exceeded its previous swing to the highest of $ 2.2, forming what seems to be a bull trap. This has led to a continued lateral price, signaling the constant balance between buyers and sellers.

The decisive breakthrough, which exceeds the $ 2.2 line, would set a new higher highest and would probably confirm the Bullish market structure shift. This would set the foundation for the rally for a $ 2.5 obstacle that corresponds to the upper border of the descending wedge.

If Ripple does not exceed the key limit, it becomes more and more likely to be more and more likely to be the critical of the 1.7 -Dollaris support zone.