XRP Consolidates Above $1 as Higher Lows Indicate Potential Breakout

XRP is currently in a consolidation phase after last week's sell-off, with the cryptocurrency showing signs of stabilization above $1.

The price has repeatedly defended the $1.08 support level during U.S. trading hours, bouncing back toward $1.10 each time.

Analysts caution that XRP may continue to trade sideways until it can decisively break above the $1.1087 resistance level.

The short-term chart structure has improved, with the price establishing higher lows at $1.0552, $1.0589, and $1.0799, indicating that sellers are losing momentum.

A confirmed break above $1.1087 with strong volume would be a bullish signal, while a loss of the $1.08 support would favor the bears.