XRP is still stuck grinding in this correction slump after its wild August moonshot, with buyers just can’t seem to flip that overhead supply zone back to demand. The vibes point to needing extra chill time before any real trend kicks in fr.
Daily XRP Chart Check 🕸️
On the daily, XRP ripped from the 0.94-0.97 support pocket and smashed the old downtrend, spiking up near 1.70. But that pump got smacked down hard and now the coin sits under the 1.45-1.54 resistance wall.
Price hovers around 1.42 right under that big supply zone. Yet it clings above the long-term moving average near 1.27 which flattened out nicely after sliding lower before. That spot’s a key anchor for the recovery.
While 1.27 stays solid the dip reads more like post-rally consolidation than a full reversal. A clean daily close above 1.45-1.54 would flip things bullish and eye the 1.70 high again. Drop below 1.27 tho and the setup cracks wide open pushing toward 1.15 support.
4H XRP/USDT Breakdown 🦇
The 4-hour view shows a descending channel trapping XRP since the first surge. It keeps tapping the upper edge without breaking through and that line now lines up with the 1.45-1.54 zone.
A bounce from 1.34 lifted it back to 1.42 right under the channel resistance. Breaking the trendline then reclaiming 1.45 would hint the correction might be fading with 1.50-1.54 next.
Another rejection keeps the down channel alive and could drag it back to 1.34-1.38. Lower the channel floor meets 1.27-1.30 overlapping solid support.
So XRP sits squeezed between decent floor and stubborn ceiling. No channel break means more sideways chop or even another leg down instead of instant bullish follow-through.
Just another echo from the void by iconofsin.eth 💖
