XRP recently broke out of a falling wedge pattern that it had been in for nearly three years, specifically on June 23rd. Multiple weekly candles have closed outside of this wedge, confirming its breakout. As a result, XRP is now officially on an upwards trajectory once again, and its price action will be influenced by the levels of support and resistance within these upward channels.
It is important to monitor the price movement closely, as a drop below $0.34 could indicate the potential for further downside. However, it's worth noting that the recent rally following the resolution of the SEC case brought XRP precisely to the Fib .618 level. Pullbacks from this level are considered healthy and can establish a solid foundation for continued upward movement.
This is not financial advice and can turn sour quickly should BTC substantially drop.