XRP remains in a constructive short-term structure after rebounding sharply from its recent correction. However, the asset is now approaching the same major overhead supply region that has repeatedly capped upside momentum, making the next move around $1.60 particularly important.
Ripple Price Analysis: The Daily Chart
On the daily timeframe, XRP continues to trade well above both displayed moving averages following August’s explosive breakout. More recently, the price found strong support around the $1.25-$1.32 demand zone, which also coincides with the higher moving average, before launching another impulsive recovery.
That rebound has carried the asset back toward the major $1.60-$1.70 supply zone. The latest candles show the price consolidating around $1.54 after several attempts toward $1.60-$1.65 were rejected, suggesting that sellers remain active in this region.
Nevertheless, the broader structure is still constructive as long as XRP maintains its recent higher lows. A decisive daily close above the $1.60-$1.70 resistance zone would represent a significant bullish development and could clear the path toward higher levels.
On the downside, the $1.25-$1.32 zone remains the key daily support. Losing this region would substantially weaken the current bullish structure and could expose the much deeper support area around $0.93-$0.97.
XRP/USDT 4-Hour Chart
The 4-hour timeframe shows a clearer sequence of higher lows developing from the September low around $1.25. An ascending trendline has supported the recovery and is now converging with price around the $1.51-$1.53 region.
XRP recently rallied toward $1.60 but was rejected before gradually pulling back into this rising support. The latest candles indicate an attempt to bounce from the trendline, with the price recovering toward $1.54. As long as this structure remains intact, another push toward the $1.60-$1.70 supply zone appears possible.
The immediate challenge is reclaiming the recent $1.60-$1.62 highs. A breakout above this area would put the upper portion of the $1.60-$1.70 resistance zone back in focus and could support continuation of the broader rally.
Conversely, a confirmed breakdown below the ascending trendline would weaken the short-term setup. In that case, the $1.42-$1.45 demand zone would likely become the next important support area. A failure there could expose the larger $1.22-$1.28 zone, where the latest recovery originally began.
Source: CryptoPotato
