XRP Price Faces Critical Resistance Ahead of Potential Move

XRP is currently trying to find its footing after a sharp price drop. While buyers managed to hold the line around the 1.02 to 1.04 dollar demand zone, the token is still stuck inside a descending channel on the daily chart. This structure has dictated the price for months, keeping the overall trend leaning toward the bearish side.

The main hurdle for bulls is the 1.17 to 1.20 dollar supply zone. Getting past this area is essential if XRP wants to aim for 1.28 dollars. If the price fails to break through this ceiling, it could easily drift back down to the 1.05 to 1.07 dollar range. For now, the recovery looks more like a correction than a new rally.

Looking at the four hour chart, the struggle between buyers and sellers is clear. XRP made a push toward the 1.16 to 1.18 dollar range recently but could not hold the ground. Until the price can consistently stay above this supply range, traders should expect more selling pressure. The key for the next few days will be whether the lower trendline of the wedge pattern holds or if the price slips lower.