XRP Breaks Out of Descending Channel, But Whale Inflows Pose Threat

XRP's price has been trending downward for nearly 32 weeks, marked by consistently lower highs and fading momentum. However, a recent breakout of a descending channel on its monthly chart suggests a potential end to this losing streak.

The altcoin's price has begun testing the former resistance line from above, with holding above $1.34 keeping recovery potential intact. A break above $1.84 would confirm a bullish reversal and send XRP's price higher.