XRP has been consolidating in a relatively narrow range against both USDT and BTC.
Despite some bearish pressure recently, key support levels continue to hold for now.
Yet, the time for the price to make up its mind is near.
The USDT Pair
XRP is still trapped within a falling wedge pattern after its failure to break above the $3.60 resistance zone earlier this quarter. Price action has been squeezing lower highs into a flat support base just above the $2.60 region.
The price recently tested this support cluster that aligns with the 100-day and 200-day moving averages, and bounced back toward the wedge’s upper boundary.
While this reaction is promising in the short term, XRP still remains inside the wedge. A decisive daily close above $3.00 would be the first sign of strength, but bulls still need to clear the $3.20 level, which aligns with the recent high to open up a larger move to the upside.
The BTC Pair
Against Bitcoin, XRP continues to trade above the 200-day moving average and is holding the 2,500 SAT support zone. The bullish crossover between the 100 and 200 MAs remains intact, which is a positive mid-term signal.
Despite some wicks below the key zone, XRP is now hovering above both moving averages. The price is compressing between the 2,500 SAT support and the 2,700 SAT resistance levels. A breakout above this range would likely push XRP back toward the 3,000 SAT area, while a breakdown risks a drop toward the 2,000 SAT level, which is the base of the recent bullish move.
The RSI also remains neutral at 47, suggesting there is room to move in either direction. As of now, the pair looks stable but lacks strong momentum. A breakout from this consolidation will define the next move.
