XRP's storm peace?

XRP, Ripple's native token has been trading in a scaling wedge pattern and has recently found support at the lower boundary. Until a decisive breakout, further consolidation in the current range is expected, as determined by the 100-days moving average and the $2 support level. XRP Analysis Daily chart XRP has remained in an extended wedge pattern in recent months, with the $2 support level acting as a strong defensive line for buyers. This important price range is in line with the 0.5 Fibonacci retracement level, consolidating its significance. Meanwhile, Ripple faces significant resistance at the 100-day moving average of $2.5, which is likely to be filled by supply. As a result, the price remains confined to a narrow range near the lower boundary of the wedge, indicating further consolidation in the short term. However, from a broader perspective, if XRP sustains support at this critical level, then a final breakout in the upside could trigger a new bull run.

4-hour chart On the lower timeframe, XRP has struggled to break through the critical resistance of $2.8, resulting in multiple rejections. Recently, the price has fallen to the selling liquidity zone below the previous lows of the market, which triggered a sharp bullish rally. Also, Ripple has formed a bullish flag pattern and has found support at its lower boundary. This price action indicates that the liquidity hunt is ongoing and the market is cooling off, potentially allowing smart money to accumulate. If a recovery emerges at this critical level, a retest of the $2.8 resistance level is likely.