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XRP rises 4.6% toward $1.13 as traders monitor a triangle breakout
XRP is compressing into a symmetrical triangle on the hourly chart, with analysts watching $1.24 to $1.28 resistance and $1.02 to $1.06 support.
XRP jumped about 4.6% over the past 24 hours to trade near $1.13, after a period of consolidation that buyers pushed higher, according to CoinDesk citing data from CoinGecko and CoinDesk Data.
CoinDesk reports traders are focusing on a short-term symmetrical triangle pattern on the hourly chart, where a clean move through the $1.13 area could pave the way toward $1.35.
On the higher timeframe, CoinDesk says the daily chart still shows XRP trading within a descending channel that has capped rallies for months, with key resistance at $1.24 to $1.28 and support at $1.02 to $1.06.
CoinDesk also notes XRP’s 24-hour range ran roughly from $1.08 to $1.14, with 24-hour trading volume around $1.27 billion, and warns that losing the $1.02 to $1.06 zone could expose the $0.88 to $0.92 area.
Latest closeXRP $1.011 ▼1.7%