XRP price surges nearly 10%, testing the resistance level around $1.50 and breaking out of the descending expanding triangle pattern on the four-hour chart. However, this rally encountered resistance immediately at that level, triggering a 10% sharp correction. Although the four-hour chart's structure remains intact, indicating that the price will continue to fluctuate within the range, the weekly chart shows a bearish outlook. XRP is currently trading around $1.28, below all major exponential moving averages (EMA), with the 200-day EMA (around $1.41) acting as a strong resistance, and momentum indicators also showing signs of weakness.
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XRP price surges nearly 10%, testing the resistance level around $1.50 and breaking out of the descending expanding triangle pattern on the four-hour chart. However, this rally encountered resistance immediately at that level, triggering a 10% sharp correction. Although the four-hour chart's structure remains intact, indicating that the price will continue to fluctuate within the range, the weekly chart shows a bearish outlook. XRP is currently trading around $1.28, below all major exponential moving averages (EMA), with the 200-day EMA (around $1.41) acting as a strong resistance, and momentum indicators also showing signs of weakness.