XRP/USDT: Recovery in Progress with Bullish Potential
2024-11-26

XRP/USDT is currently trading around $1.424, navigating within a downward-sloping channel but showing signs of recovery. The price has bounced from the channel's lower boundary and is attempting to reclaim higher levels, signaling potential bullish momentum.

The immediate resistance lies at $1.500, where buyers may face selling pressure. However, a breakout above this level could set the stage for a rally toward the $1.600–$1.700 zone. On the downside, $1.350 remains critical support, with any breach exposing XRP to further declines toward $1.300 or lower.

For now, the structure favors cautious buying opportunities as long as prices remain within the channel and above key support levels. A confirmed breakout above $1.500 would reinforce bullish sentiment, while a failure could keep the market under pressure. Traders should watch for consolidation patterns and volume to validate potential trends.