XRP Price Stalls at $1.60, but One Bullish Pattern Keeps Upside in Play
BeInCrypto
XRP's price has paused at $1.60, forming a 'cup' pattern that suggests potential for further gains if it breaks this resistance level.Summary
XRP price has experienced a recent rally, gaining nearly 11% in the past week, but is currently facing resistance around $1.60. This has led to a consolidation phase, characterized by a 'cup' pattern forming on the daily chart. Volume decline suggests a pause in momentum, but on-chain data indicates mild selling and cooling leverage, rather than a breakdown. A break above $1.60 could unlock a 30% move towards $2.08, while a drop below $1.40 would weaken the bullish setup and potentially lead to further declines. Key support levels to watch include $1.54 and $1.40.
(Source：BeInCrypto)