XRP → Consolidation before the breakout and rally ↑
2025-01-07
Category: None

BINANCE:XRPUSDT  has been in consolidation for a little over a month after a strong rally and this is a good sign indicating that there is still strength in the market. And as we know, consolidation at some point turns into distribution

  

The symmetrical triangle in our case has the character of a consolidation pattern, the purpose of which is the continuation of the trend. Buyers are aggressively defending the support zone, forming a cascade of levels. But more remarkable concerning the pattern is the consolidation 2.5 - 2.337, which is formed near the triangle resistance. Consequently, we can assume that the market is accumulating strength to break the resistance. 
Fundamentally, the project has very good prospects after a long and protracted winter. Trump's victory and the changes provoked by him have a favorable impact on Ripple. 

 Resistance levels: 2.5, 2.73, 3.05
Support levels: 2.337, 2.2, 2.00 

Accordingly, the realization phase will start after breaking the resistance of 2.5. Thus, we can assume that the exit from the accumulation will be upward, which can also be helped by a bullish and growing bitcoin. 

Regards R. Linda!