Analyst to XRP Traders: Watch This Range Early Next Week for a Breakout

XRP remains locked inside a descending channel, with crypto expert Levi Rietveld expecting that pattern to continue through the weekend before a possible move early next week.

In a new analysis, Rietveld stated that XRP “should trade in this range for the rest of the weekend” before adding that “early next week we may break out!”

His chart highlights a well-defined downward-sloping channel that has contained price action over the past two days. The setup suggests that XRP continues to consolidate within established boundaries as traders watch for signs of a directional move.

XRP Respects Support and Resistance

The chart shows XRP moving between two parallel trendlines. The upper trendline has repeatedly acted as resistance, while the lower trendline has served as support. Several rebounds from the lower boundary have kept the channel intact. At the same time, multiple rejection points near the upper boundary have prevented a sustained push higher.

The chart tracks XRP’s recent decline. Most recently, the asset bounced after testing the lower portion of the channel. The recovery moved the price back toward the middle of the range, where it currently trades. This behavior indicates that traders continue to respect both sides of the structure. Until either boundary breaks, the channel remains the dominant short-term pattern.

Midline Could Play an Important Role

A dashed trendline runs through the center of the channel. XRP has interacted with this level several times throughout the pattern. It has alternated between trading above and below that midpoint, making it a useful reference area for short-term momentum. The latest rebound has pushed XRP back toward this zone after a sharp decline earlier in the session.

If buyers maintain control, the next area to watch would be the upper boundary of the channel. A move into that region would place XRP in a position to test resistance once again.

What Traders Should Expect

Rietveld’s outlook centers on the possibility of a breakout after the weekend range-bound trading period ends. For now, the chart does not show a confirmed breakout. XRP remains within the descending channel, meaning traders will likely continue monitoring the upper and lower trendlines for confirmation of the next move.

A break above the channel could signal that short-term selling pressure has weakened. Such a move would also end the series of lower highs that has defined the pattern. The lower boundary remains equally important. Continued support there would preserve the structure that has guided price action throughout the consolidation phase.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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