XRP Consolidation Phase May Be Setting Up for Breakout

XRP's price has been stable despite recent selling pressure, and analysts believe this could be laying the foundation for its next major rally.

The altcoin is currently in a consolidation phase, but several market watchers think that as long as key resistance levels hold, it remains on track for a potential breakout.

One analyst pointed to the multi-year falling wedge, which has XRP trading inside it with its long-term ascending trendline intact. As price moves closer to the wedge's apex, the probability of a large directional move increases.