XRP forms higher lows, needs to clear $1.1 for rally

XRP is establishing higher lows above the $1 mark following last week's sell-off, but it may continue to trade sideways until it breaks above $1.1, according to an analysis by CoinDesk. The outlet noted that during U.S. trading hours, XRP repeatedly defended the $1.08 support level before rising toward $1.10, but failed to overcome resistance at $1.1087. The short-term chart has improved as the price has formed a series of higher lows at $1.0552, $1.0589, and $1.0799. While an increase in trading volume during the ascent confirmed buying pressure, selling continues to emerge at the $1.1087 resistance level. If the $1.08 support is breached, the next support is at $1.0611. Conversely, a decisive move above $1.1087 could open up a path to the $1.12-$1.13 range. However, CoinDesk explained that until XRP firmly establishes itself above the $1.10-$1.12 zone, this period should be seen as consolidation rather than a breakout.