Usman Salis
⬤ XRP is testing a major resistance level after spending months under downward pressure. The asset is getting close to challenging the descending trendline that's been controlling price action since July 25. Recent charts show a bounce from lower levels, with price now pushing back toward the upper edge of this formation.
⬤ The current setup shows a long corrective phase marked by consistently lower peaks. After touching the bottom of the channel recently, price is now squeezing up against resistance. This trendline is the main obstacle standing between the current downtrend and a potential reversal.
⬤ Once XRP pushes through that descending resistance, things could move fast. There's potential for a short squeeze to kick in right after the breakout, which might fuel aggressive upside action in a compressed timeframe and clear the runway toward all-time highs.
⬤ This isn't just another resistance test—it's the line between staying stuck in correction mode and shifting into a legitimate bullish phase. A breakout here would signal that the downtrend structure is finally breaking down and something bigger might be starting.
Usman Salis
