Usman Salis
⬤ XRP just made an interesting move on the hourly chart—it broke above the upper line of a descending channel that had been containing price action for a while. The breakout happened around the $1.90 mark after the token spent days moving lower in a controlled pattern. But here's the catch: we need one or two more candles to confirm this isn't just a fake-out.
⬤ The chart shows XRP had been trading in a tight descending channel, bouncing predictably between support and resistance lines. After dropping toward the lower boundary near $1.80, the price suddenly reversed with strong buying volume. That push carried it back up to test the upper resistance—and this time, it broke through.
⬤ Still, this breakout is early. XRP has barely cleared the descending trendline, and we haven't seen a solid close above it yet. The next candles will tell us whether buyers can hold this level or if the price slips back into the old channel. A confirmed hold would mean the downtrend structure is finally done. A rejection would mean more sideways action ahead.
⬤ Why does this matter? When assets break out of descending channels, it often marks the start of a fresh upward phase after consolidation. If XRP can stay above this resistance, we might see the beginning of a bigger rally. If not, expect more range-bound trading. The next few hours will be crucial for XRP's short-term direction.
Usman Salis
