XRP has been consolidating for months while the broader market experienced volatility, with recent signs of accumulation against USDT and BTC pairs.
XRP/USDT is currently testing the 100-day moving average after rebounding from sell-side liquidity below $2, signaling potential exhaustion of bearish momentum.
XRP/BTC pair is approaching the lower boundary of a descending channel, which aligns with a major fair value gap, increasing the probability of a bullish reaction.
A breakout from the channel in both pairs could lead to bullish continuation, but failure to hold key support levels might result in further downside.