Ripple Price Analysis: XRP’s Recovery Is a Trap Until This Happens

Ripple’s XRP remains trapped beneath a major technical barrier despite recovering from its late June lows. The recent rebound has improved short-term sentiment, but the price is now approaching an area where buyers must absorb significant overhead supply before a broader trend reversal can be considered. Ripple Price Analysis: The Daily Chart The daily chart shows XRP continuing to trade within a well-defined long-term descending channel. Although the recent rebound has lifted the asset away from the $1.02 to $1.05 demand zone, the broader structure still favors sellers while the asset remains below the channel’s upper boundary and the major moving averages. The immediate hurdle sits inside the $1.24 to $1.29 resistance zone, where the upper channel boundary converges with the 100-day moving average. This confluence makes the area particularly important, as a rejection here would reinforce the prevailing downtrend. A successful breakout above this region would expose the 200-day moving average next, but buyers first need to reclaim the current resistance cluster before a more constructive outlook can develop. On the downside, the $1.02 to $1.05 demand zone remains the primary suppo...