1 month ago
29
Key Takeaways
- XRP failed to close above channel resistance.
- Price is consolidating near the channel midpoint.
- RSI remains weak at approximately 41.
- Futures turnover remains 4.39 times spot volume.
- Exchange reserves increased just 0.03% over 24h.
The August 27 breakout test failed
Our previous analysis of XRP’s three remaining breakout tests identified a close above $1.47-$1.50 as the first condition for escaping the descending channel.
XRP reached the channel ceiling near $1.47 and turned lower before confirming that close. The breakout never materialized, so XRP did not reach the retest stage. The previous $1.55 pivot remains untouched.
Read Entire Article
English (US)