XRP Narrowly Consolidates Near Key Support and Resistance Levels

XRP is currently consolidating below the $1.65 resistance level as it searches for short-term direction. According to The Crypto Basic, XRP is forming a triangle consolidation zone around $1.50 on a four-hour chart, with key resistance at $1.70 and support zones at $1.27 and $1.10.

Chart analyst Casitrades noted that XRP is capped by the $1.64 to $1.65 resistance zone, with a tightening triangle consolidation suggesting an imminent directional move. The biggest resistance lies in the $1.6363 to $1.6432 range, overlapping a Fibonacci resistance line and a horizontal resistance line. The report highlighted $1.5315 as a level that needs to be reclaimed before another attempt at the upper zone.

XRP previously rose to the $1.65 to $1.70 range before being pushed back and is now staying within a short-term consolidation zone. If the current wave extends, it could rise again to $1.6568 to $1.7052, representing a gain of about 12.7 percent. However, the structure could also turn lower and enter a larger corrective wave, with the first major support zone at $1.24 to $1.26 and the next major retracement zone near $1.10.

Momentum indicators remain neutral, with the relative strength index (RSI) at 52.89 and its moving average at 52.45. The RSI is narrowing its range, making the next price move crucial. Even if XRP returns to the $1.65 to $1.70 zone, bearish divergence could form again if the RSI fails to exceed its prior peak. A strong break above $1.65 could change the flow, with a rise toward $1.80 potentially altering the four-hour chart structure.