XRP Today's price: After 10 weeks of sideways movement, will it break down or break up?

XRP has been trading within a parallel channel between the $1.25 support level and the $1.55 resistance level for the tenth consecutive week. Analyst ChartNerd noted that the token recently rebounded from the lower edge of the channel and moved towards the middle line, but sellers pushed it back down near the 20-day and 50-day exponential moving averages on the daily chart.

This decline occurred not long after a "death cross," where the shorter 20-day EMA line broke below the 50-day EMA line, which is generally seen as a signal of weakening momentum. The early weakness suggests that prices may further fall to the range below the current support level of $1.16 to $1.14.

According to ChartNerd, the bulls need to regain the range of $1.36 to $1.37 first before there is a realistic possibility of testing $1.50 again. Until XRP breaks through this channel, the current range pattern remains valid.

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