XRP eyes $1.34 — can it reclaim the level to reignite the rally?
• On the daily chart XRP is correcting the August rally from $0.99 to the $1.70 high.
• The price sits just below the 0.5 Fibonacci retracement at $1.34, now acting as resistance.
• The key support at $1.26 (0.618 retracement) has held twice, though a reversal is not confirmed.
• A breakout above $1.34 would open the path toward the $1.40 supply zone and eventually the $1.50 overhead barrier.
• Conversely, a decisive daily close below $1.26 could push the pair toward $1.20 (0.702 retracement) and further to $1.14 (0.786 demand block).
• The 4‑hour chart shows a descending channel since the late‑September high near $1.65, with the upper boundary around $1.34 overlapping the daily 0.5 retracement.
• A clear breakout could trigger a relief rally to $1.40; a rejection would likely send price back to test $1.26 and then $1.20.
Do you think the $1.34 barrier will hold or break, and what would that mean for XRP's next move?
#XRP #CryptoAnalysis #Ripple #TechnicalAnalysis #MarketStructure
• On the daily chart XRP is correcting the August rally from $0.99 to the $1.70 high.
• The price sits just below the 0.5 Fibonacci retracement at $1.34, now acting as resistance.
• The key support at $1.26 (0.618 retracement) has held twice, though a reversal is not confirmed.
• A breakout above $1.34 would open the path toward the $1.40 supply zone and eventually the $1.50 overhead barrier.
• Conversely, a decisive daily close below $1.26 could push the pair toward $1.20 (0.702 retracement) and further to $1.14 (0.786 demand block).
• The 4‑hour chart shows a descending channel since the late‑September high near $1.65, with the upper boundary around $1.34 overlapping the daily 0.5 retracement.
• A clear breakout could trigger a relief rally to $1.40; a rejection would likely send price back to test $1.26 and then $1.20.
Do you think the $1.34 barrier will hold or break, and what would that mean for XRP's next move?
#XRP #CryptoAnalysis #Ripple #TechnicalAnalysis #MarketStructure
