- XRP’s four-hour chart shows a bullish reversal pattern, with the neckline aligned at $3.15 resistance.
- Support at $3.09 and resistance at $3.15 continue to constrain price action, delaying a potential breakout.
- Despite a 4% weekly dollar decline, XRP has gained 0.5% against BTC, signaling relative stability.
The price action of XRP is indicating a possible breakout as it forms an inverse head and shoulders pattern on the four-hour chart. Its token is now valued at $3.13 with a 4.0% reduction in the past week . According to market data, the trading range in the last 24 hours was between $3.09 and $3.15. The pattern indicates that the level of $3.15 could be a strong resistance should prices succeed in settling above it.
Current Market Range and Technical Setup
The recent trading session highlights a narrow range that has kept XRP within defined levels of support and resistance. Support has been established around $3.09, where buyers have shown consistent activity. Resistance remains at $3.15, capping the token’s attempts to move higher.
Price activity on the four-hour chart illustrates repeated tests of this level without a confirmed breakout. The technical formation observed is an inverse head and shoulders pattern, which typically represents a reversal structure. Notably, the neckline aligns closely with the resistance barrier near $3.15. For confirmation, analysts are monitoring the candle close relative to this neckline.
XRP Shows Dollar Weakness While Holding Relative Strength Against Bitcoin
Despite the current short-term setup, XRP has declined by 4.0% over the last seven days. This weekly loss reflects a retracement following prior advances. The move has pulled XRP away from higher ranges above $3.25 seen earlier in the month.
At the same time, XRP’s performance relative to Bitcoin has shown modest stability . The token currently trades at 0.00002646 BTC, marking a 0.5% increase. This cross-pair performance suggests stronger positioning against Bitcoin, despite weakness on the dollar pair. Such stability may play a role in broader sentiment across trading platforms.
XRP Consolidates as Key Levels Define Short-Term Direction
Looking ahead, chart watchers are focused on two immediate levels that could shape near-term price direction. The first is the $3.09 support, which has provided stability during recent declines. If this level holds, short-term buyers may continue defending the range.
On the other hand, the $3.15 resistance remains a critical barrier. A sustained close above this level would mark the completion of the inverse head and shoulders structure on the four-hour timeframe. Until then, price remains constrained within the observed consolidation.
Market participants continue to assess whether XRP can maintain momentum and establish strength above the neckline. Until that point, the token trades narrowly within its defined boundaries, reflecting current market indecision.
