$XRP Price Breaks Falling Channel, Targets $1.53 and Beyond

$XRP's price has broken out of a falling channel on its 4-hour chart after reaching $1.47, but faces resistance at $1.50 and $1.53.

The token had been trading near $1.45 on September 4 before the breakout, and its momentum is currently stronger than longer-term momentum according to the Awesome Oscillator.

However, analysts warn that a push above $1.53 would require buyers to clear several nearer barriers, including $1.50, ChartNerd's $1.80 target, and the August high near $1.70.

A convincing move above the 50-week exponential moving average at $1.53 could open the way towards $1.80, while repeated weekly closes below it would raise the risk of a deeper retracement.