A #XRPUSDT pair is currently trading near $1.55-$1.56, with an upward trend in the short term after breaking a previous descending channel, but it faces critical resistance in the $1.60-$1.65 area.
๐ Technical Analysis
ยท Current trend: Price has broken a descending channel on the daily timeframe, opening the way toward $1.70 resistance. The indicators (RSI at 62) support positive momentum without an overbought area currently.
ยท Supports and resistances: The main support is at $1.53, then $1.44. The first resistance is at $1.60 (heavy sell concentration), followed by $1.65โ$1.70 (a critical zone for determining the path).
ยท Alternative scenario: Breaking support at $1.50 could mean continued sideways trading, while losing $1.44 threatens further downside.
๐ฐ Market-moving news
ยท Fund flows #ETF : Net inflows into #XRP -traded funds continued to be positive for 11 consecutive weeks, with a cumulative total exceeding $936 million, reflecting ongoing institutional demand even as capital bleeds from Bitcoin and Ethereum funds.
ยท Expected upgrade #XRPL : The long-awaited โBatchโ upgrade is nearing activation on September 29, supported by 30 of 35 validators. The upgrade enables atomic settlement of transactions, but its impact on actual demand on $XRP remains unclear without a specific announcement from defined founding partners.
๐ฏ Forecasts and targets
ยท Short term: Buyers need to reclaim $1.60 to keep momentum going toward $1.70, then $1.80โ$1.90.
ยท Long term: Veteran analyst Peter Brandt sees a long-term target at $5.40, but it is not a trading recommendation and there is no specific timeline.
Note: Analystsโ forecasts vary widely (from $0.98 to $10), reflecting a high level of uncertainty. Investment decisions require careful risk management.
