As the crypto market recovers, here's when XRP could surge to $0.6 (Ripple Price Analysis)

Ripple has endured a consistent downtrend characterized by low volatility and lack of momentum in price movements.

However, it has recently been sitting in a key support area around $0.50, which could lead to a sideways consolidation phase before the next significant move.

Written by Shayan

daily chart

A closer look at the daily chart shows that Ripple's price trajectory has been gradually declining, resulting in reaching an important support area.

This support zone includes the $0.5 static level and the lower bound of a multi-month triangle pattern. Given Ripple’s current low volatility and lack of momentum, the most likely scenario in the short term is a period of sideways consolidation before the next directional move.

However, XRP is expected to eventually see a bullish rebound, leading to a retracement towards the previously broken 200-day moving average. Therefore, traders should closely monitor Ripple's price movements around these key levels as increased volatility may emerge in the future.

4 hour chart

A more focused analysis of the 4-hour chart highlights the dominant influence of sellers, as evidenced by Ripple falling within a descending wedge pattern.

Nevertheless, the price has reached an important support area around $0.5, which coincides with the lower bound of the wedge pattern. Therefore, with demand present near this critical threshold, a rebound leading to a bullish retracement is highly likely.

Nevertheless, XRP price appears to be staying within the $0.5 to $0.6 range, suggesting that it could continue to remain volatile within this important area until a breakout occurs. If the breakout is successful, the $0.7 resistance area and $0.42 support area will emerge as the next focus of Ripple price movement.