Why XRP needs to break north and should traders be wary
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice
XRP has left its investors rather displeased with the lack of movement recorded over the past couple of weeks. The alt seems to be on standby while the likes of Solana, MATIC, Cardano, and Ethereum have seen double-digit growth recently.
Oscillating within a range, XRP has been unable to overcome sell pressure present at the 23.6% Fibonacci level.
Moreover, the formation of a rising wedge identified some downside for XRP, if bulls fail to smash past the immediate price ceiling at $1.20. At the time of writing, XRP was trading at $1.13, up by 1.4% over the last 24 hours.
Source: XRP/USD, TradingView
XRP’s road to its
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