Saad Ullah
⬤ XRP is stuck in a consolidation pattern after taking a hit, currently trading around $1.57 on the hourly chart. What we're seeing here is a completed Wave 4 triangle—basically a corrective structure that's winding down. The price is hovering just above a well-defined support area, and the market is waiting to see which way it breaks.
⬤ The chart tells the story clearly: XRP dropped from the $2.00 level and then started forming lower highs that eventually squeezed into a tightening triangle. This whole consolidation is happening below previous resistance and within key Fibonacci zones. The important levels to watch are $1.81 (50% retracement), $1.73 (38.2%), and $1.64 (23.6%)—all acting as overhead barriers right now.
⬤ Price keeps testing the triangle's lower edge while being capped by a descending trendline above. The $1.55–$1.57 support zone is the line in the sand here—it matches up with earlier bounce points and the bottom of the consolidation range. If that breaks, we could see more downside. If it holds, the triangle stays valid. So far, no breakout either way.
⬤ Why this matters: triangles usually lead to sharp moves once they resolve. With Wave 4 looking structurally done, what happens next at these key levels will tell us whether XRP kicks off its next big move or just keeps grinding sideways. Until we get a clean break, XRP remains trapped in this range.
Saad Ullah
