XRP is hovering around $1.08, caught in a tightening wedge pattern that could decide if the token recovers or falls further. After sharp selling pressure pushed the price down through June, the digital asset has managed to avoid dipping below $1.00 to $1.05, hinting that buyers are stepping back in.
Despite this, resistance remains tough. XRP trades under its 20-day, 50-day, and 100-day exponential moving averages, currently near $1.10, $1.14, and $1.25. The 200-day EMA at $1.45 stands as a more distant hurdle for any sustained rally.
Volume has been muted during this consolidation, suggesting a lack of strong conviction on either side. The Relative Strength Index sits around 44, showing momentum is still skewed slightly to the downside but no longer deeply oversold. Traders eyes will stay fixed on whether XRP can break above these averages or slip back under support.
