XRP Soars 8% on Daily Surge, Consolidation Around $1.35

XRP has experienced an 8% daily surge, pushing its price above $1.35 after a sharp recovery from below $1.

The cryptocurrency is consolidating around this level as it attempts to stabilize following a strong rally.

A look at the daily charts indicates a major structural improvement for XRP, while the 4-hour chart shows that the asset is still trading inside a descending channel.

This suggests that there may be some short-term corrective risk, but overall, the higher-timeframe momentum remains bullish for the token.