XRP Price Stuck in Triangle Pattern Ahead of Key Breakout

XRP's price is nearing a critical technical moment as it trades near $1.09, with the cryptocurrency being squeezed between a descending resistance trendline and rising support.

The symmetrical triangle pattern is tightening around this price level, suggesting that a significant move could be approaching.

However, the current market structure still slightly favors the bears, and buyers face a major obstacle in reclaiming the 50-day, 100-day, and 200-day moving averages clustered between $1.10 and $1.24.

XRP has repeatedly defended the psychological $1.00 support level throughout July, preventing a deeper decline, but momentum indicators remain neutral, with the Relative Strength Index (RSI) hovering around 46.