Rimple price analysis: is XRP about to break out of consolidation after $ 3?

XRP will continue to be traded in a tightening rod in September after the loss of Momentum. Both USDT and BTC pairs test critical areas that can determine the next major movement in the coming weeks.

Technical analysis

By Shayan

The USDT pair

XRP holds around $ 2.98 against USDT after bouncing the $ 2.60 zone, where the 100-day MA acted as support, in addition to the lower limit of the falling wig pattern.

The price is currently pushing into the upper limit of a wedge that has closed the top since mid -July. A breakout above $ 3.00 can open the road to the resistance of $ 3.60, while rejection here runs the risk of sending the price back to the 2.60 zone and the 200-day advancing average in the area, or even the lower limit of the large rising channel.

The BTC pair

The BTC pair is just above the 2500 SAT zone, closely matches the golden zone of Fibonacci Retracement. The price is consolidating after losing steam at the 3000 SAT level and is now confronted with the 100-day and 200-day progressive averages as critical support.

A decisive break under the 2500 SAT area could drag the couple to the 0.618 racement level at the 2,350 SAT marking and possibly lower in the direction of the imbalance around 2,250 Sat marking. At the top, retaining the 0.5 level and recovering the highlights around 2,700 Sat would strengthen the case for a retest of the key height at 3000 SAT. It is advised to stay careful until the price shows its hand by breaking on both sides.