Ripple price has seen a strong push over the past few days. After trading quietly within a descending channel for weeks, XRP suddenly picked up momentum and climbed sharply. The move from the lower end of the channel to the top marked a gain of about 20%, which got many traders excited. But despite the bullish attempt, the price still failed to break out of the pattern.

At the close of yesterday’s session, XRP price slipped back into red territory. Today, the selling pressure seems to be increasing again. This shift is raising concerns that the recent spike may have been a temporary bounce rather than the start of a proper breakout.

The Ripple price has been stuck inside a falling channel since May. Each time XRP tries to push higher, the upper boundary of the channel acts as resistance. That’s exactly what happened again. Even with a double-digit move to the upside, the price couldn’t push through.

If the downward pressure continues and the bulls don’t show up soon, the XRP price could head back to test the previous low. That low sits slightly below $1.9, and a drop to that level would likely shake out short-term buyers.

Even though the current setup looks weak, a breakout is not completely off the table. If Ripple price manages to push above the upper boundary of the channel, we might see another sharp move. A confirmed breakout could open the door for XRP to rally toward the $2.6 region.

But for that to happen, the buying volume needs to increase quickly. The next few daily candles will likely determine whether XRP stays stuck or makes a big move.

Right now, the XRP price is at a critical point. The recent 20% spike showed there’s still energy in the market, but the quick fade shows bulls are not fully in control. If the pattern continues and sellers take over, we may see Ripple price sink below key support levels again.

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On the other hand, if momentum picks up and XRP breaks out of the channel, the next target to watch is $2.6. Until then, the current range continues to limit upside moves, and traders should keep an eye on how price behaves around the channel boundaries.

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The post XRP Price Spiked Over 20% This Week but the Rally Might Be Over appeared first on CaptainAltcoin.

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