XRP is consolidating under $1.3750 in a contracting triangle pattern on the hourly chart, with resistance at $1.380, according to Kraken data. A move above $1.3840 could push it toward $1.3940 and $1.420, while failure to break that level may send it down to $1.3580 support. The cryptocurrency remains below the 23.6% Fibonacci retracement of its recent drop from $1.5495 to $1.3465.
Contracting Triangle Tightens
XRP’s price action is coiling near $1.3750 after holding above $1.350. The hour-by-hour movement shows diminishing volatility as sellers and buyers battle at the upper triangle boundary. This pattern typically precedes a sharp directional move once the price escapes the narrowing range. Traders are watching the $1.380 resistance that has capped gains in multiple attempts.
Make-or-Break Level at $1.3840
The critical threshold stands at $1.3840. Clearing it decisively would unlock the first target at $1.3940 before a steeper climb toward $1.420. But the chart shows repeated failures to breach this barrier. A bounce back under $1.380 keeps the door open for the downside path. Every false breakout risks triggering stop-loss orders that accelerate the move.
Support Holds at Key Zone
Downside protection sits at $1.3580, where the price found footing earlier this week. The asset previously rallied from above $1.350 after holding that floor. A break below $1.3580 would open the route to $1.340, erasing this week’s recovery. That level represents the low point before the current bounce began to form.
Mixed Momentum Signals
Indicators show conflicting pressures. The hourly RSI is above 50, confirming bullish momentum is still in play. Yet the MACD is losing speed in the positive zone, hinting at diminishing upward force. This disconnect suggests buyers lack conviction to push through resistance. The price’s position under the Fibonacci retracement level adds weight to the consolidation narrative.
Traders now wait for the next decisive move to confirm direction. A breakout above $1.3840 would trigger buy orders targeting $1.3940 within hours, while a drop below $1.3580 would activate sell stops toward $1.340.
