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A strong recovery by XRP has eliminated the possibility of an impending mini-death cross and prepared the way for a possible breakout of a protracted downward trend. The asset is currently approaching a crucial resistance level at $2.20, the upper boundary of the channel that has held back price action since early February, following a period of consolidation within a descending price channel.
XRP has been stuck in a textbook descending channel in recent weeks with lower lows and steadily declining highs. Although it also suggests possible accumulation prior to a breakout, this pattern usually indicates seller dominance. The bearish momentum that might have arisen from a mini-death cross in which the 26 EMA slipped below the 50 EMA has been effectively invalidated by XRP's current price action, which is pushing toward $2.30.
Instead, a bullish crossover is the target. The move has also been supported by volume. A discernible rise in purchasing pressure indicates fresh interest in the asset as the price of XRP settles just below resistance. A rally toward the next significant resistance level, which is around $2.50 and higher, might be sparked if XRP is able to break and close above the $2.20 level with conviction.
Alex DovbnyaNow confirmation is crucial. After months of declining structure, a clear breakout from the descending channel would signal a larger trend shift in favor of XRP. Failure to break above $2.20, however, might lead to yet another rejection, confirming the validity of the channel and pushing the price back toward the support zones of $2.00 or even $1.85.
The price performance of XRP is indicating strength as it approaches a crucial technical barrier. Together, the test of the upper trendline at $2.20, rising volume and the invalidation of a bearish crossover signal a turning point. A wider recovery might be in progress if XRP makes a strong breakthrough.
Vladislav Sopov
Dan Burgin