Ripple’s XRP is still trading below a major technical barrier even after rebounding from its late June lows. The recovery has strengthened the short-term setup, but the token is approaching an area where buyers would need to absorb substantial overhead supply before a broader trend reversal could be considered. XRP’s price action has been influenced in recent months by the broader cryptocurrency market correction and the ongoing legal proceedings between Ripple Labs and the U.S. Securities and Exchange Commission, a case that has shadowed the token since its inception in December 2020 and contributed to periodic pressure on sentiment.

Daily Chart: XRP Remains Inside a Descending Channel

On the daily chart, XRP continues to move within a clearly defined long-term descending channel. The latest rebound has carried the asset away from the $1.02 to $1.05 demand zone, but the wider market structure continues to favor sellers as long as XRP remains beneath the channel’s upper boundary and the major moving averages.

The first major obstacle is the $1.24 to $1.29 resistance zone. In that range, the upper boundary of the descending channel aligns with the 100-day moving average, creating an important technical confluence. A rejection from this area would reinforce the existing downtrend.

If XRP breaks above that region, the next level in focus would be the 200-day moving average. However, buyers would first need to reclaim the current resistance cluster before a more constructive technical outlook can develop.

On the downside, the $1.02 to $1.05 demand zone remains the main support area. A loss of that zone would likely move momentum back toward the broader bearish trend.

XRP/USDT 4-Hour Chart: Short-Term Structure Improves

The 4-hour chart shows a more constructive short-term picture. XRP has reclaimed the descending trendline that capped price action throughout July and is now consolidating just below the $1.16 to $1.18 supply zone.

That resistance area has repeatedly rejected bullish attempts in recent weeks, making it the key level to watch. A decisive breakout above $1.18 could open the way toward the daily resistance area around $1.24 to $1.29. Another rejection, however, would likely send the price back to retest the broken trendline as initial support.

As long as XRP continues to hold above the reclaimed trendline, buyers maintain a modest short-term advantage. The broader trend, however, remains neutral to bearish until the price gains acceptance above the overhead resistance cluster.