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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

XRP Descending Channel Caps Rally – Will Bulls Mount A Comeback?

Godspower Owie
Godspower Owie
2 months ago
3 mins read
XRP

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XRP is navigating a challenging technical landscape as it continues to trade within a well-defined descending channel on the daily chart. This bearish structure has kept price action under pressure, with each attempt at recovery meeting resistance along the upper trendline. The pattern reflects a broader struggle between bulls attempting to defend key support zones and bears maintaining a firm grip on short-term momentum.

As XRP’s price coils tighter within the confines of the channel, this suggests that a decisive move could be on the horizon. Whether the bulls can muster enough strength to flip the trend or the bears extend their dominance remains a crucial question that may define XRP’s next major move.

Bears Keep Price Below Key Resistance Line

Currently, XRP is showing signs of a potential bearish move after encountering strong resistance near the upper boundary of its descending channel on the daily chart. This upper trendline has acted as a formidable barrier, halting recent bullish attempts and reinforcing the overall downtrend structure.

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XRP Poised For Final Flush Before Breakout, Predicts Crypto Analyst

2 months ago

The rejection at this level suggests that sellers are still dominating the market. If bearish momentum builds, the altcoin could revisit lower support levels within the channel, potentially retesting the lower boundary of the descending channel.

XRP
XRP trending in a descending channel | Source: XRPUSDT on Tradingview

Also, the Moving Average Convergence Divergence (MACD) indicator is approaching a potential bullish crossover. This pending cross between the MACD line and the signal line has caught the attention of traders, especially as it forms near a key technical zone. A confirmed crossover might indicate a possible trend reversal, hinting at growing bullish strength after a period of downside pressure.

However, given recent market volatility and past failed breakouts, skepticism remains. Previous attempts in similar setups have led to fakeouts, temporary moves that fizzled out quickly. As a result, confirmed price action and volume are advised before positioning too aggressively. If accompanied by a breakout from nearby resistance, this cross could mark the beginning of a stronger upward move. Otherwise, it risks becoming just another false alarm in a choppy market.

Support Zone In Focus As XRP Tests Lower Boundary

XRP finds itself at a critical juncture as it moves toward the lower boundary of its descending channel. This area has served as a reliable support level in recent weeks, preventing deeper losses and providing a foundation for minor rebounds. As price action moves toward this zone, traders are watching closely to see whether buyers can defend it once again or if the bears will force a decisive breakdown.

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XRP Price Is Eyeing Another Breakout To $4: Analyst Says Watch This Level

2 months ago

A sustained hold above this support zone may pave the way for a short-term bounce, targeting mid-channel resistance levels. However, a clean break below this lower boundary may ignite downside pressure, exposing XRP to fresh multi-week lows such as $0.9353. With sentiment currently fragile, this support test might be pivotal in shaping XRP’s next trend.

XRP
XRP trading at $2.18 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from YouTube, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

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I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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