XRP's Dynamic Resistance Continues to Cap Price Action

XRP has been struggling to overcome its dynamic resistance, which is comprised of the 50-day and 100-day moving averages converging at around $1.10.

Despite a brief attempt to break higher earlier this week, sellers regained control, pushing the token back below the crucial triangle breakout level.

XRP's trading range has become increasingly limited, with the symmetrical triangle formed over the past few weeks indicating contracting volatility before a bigger move.

The general trend still favors caution, as XRP is trading below all major long-term resistance levels, including the 200-day moving average at $1.21.