[DigitalToday reporter Yoonseo Lee] XRP is narrowing its moves below the $1.65 resistance level as it searches for a short-term direction.

The Crypto Basic, a blockchain media outlet, reported on Oct. 6 (local time) that XRP is forming a triangle consolidation zone around $1.50 on a four-hour chart. It flagged $1.70 on the upside and support zones at $1.27 and $1.10 as key variables.

Chart analyst Casitrades said XRP is being capped by the $1.64 to $1.65 resistance zone while forming an even tighter triangle consolidation. With the gap between trend lines narrowing quickly, the analysis said a directional move is likely soon.

The biggest resistance lies in the $1.6363 to $1.6432 range. That zone overlaps a Fibonacci resistance line and a horizontal resistance line. The report also pointed to $1.5315 as a level that needs to be reclaimed before another attempt at the upper zone.

XRP previously rose to the $1.65 to $1.70 range before being pushed back, and it is now staying within a short-term consolidation zone formed after that move. If the remaining short-term wave extends once more, it could rise again to $1.6568 to $1.7052. A move from $1.5090 to $1.70 would be a gain of about 12.7 percent.

It also noted that forming an additional high is not a necessary condition. The structure could instead turn lower and enter a larger corrective wave. In that case, the first major support zone is $1.24 to $1.26, and if that level breaks, the next major retracement zone is near $1.10.

Momentum indicators have not yet tilted to one side. The relative strength index (RSI) stands at 52.89 and its moving average is 52.45, both near neutral. With the RSI also narrowing its range between a downtrend line and an uptrend line, the next price move has become more important.

Even if XRP returns to the $1.65 to $1.70 zone, bearish divergence could form again if the RSI fails to exceed its prior peak. If the price breaks resistance strongly and the RSI also clears its own resistance line, the flow could change. If XRP breaks above $1.65, rises toward $1.80 and then holds that level as support, the four-hour chart structure could also change.

It said the $0.90 zone has a different character. If the price falls back to that level, the current structure of higher highs and higher lows would be shaken, and the current wave count would need to be reviewed again. XRP is continuing to compress between a short-term triangle consolidation and upper resistance, and the next breakout direction is expected to determine whether it is a retest of $1.70 or the start of a deeper correction.

XRP IS DOING EVERYTHING POSSIBLE TO AVOID MAKING A DECISION! ripple:native is still sitting below the major $1.65 macro .618 resistance, and since our last test it's formed another smaller consolidation that's now approaching its apex exactly 2 weeks later... We're running out of room! We could get one final wave toward ~$1.70 to finish the current structure. If we do, I'm watching RSI for another degree of bearish divergence to confirm the larger top (W1) before moving into W2. BUT XRP also has a habit of failing its final 5th waves and heading straight into correction. And considering we've already tested this resistance, we don't necessarily NEED another high. Either way, my plan really doesn't change. I'm buying major fibs! Wave 2 Supports: $1.27 (.618 retrace) + $1.10 (.854 retrace) W2 can be aggressive and FAST. Holding $1.27 or $1.10 would support the new-trend structure I've been tracking. A new low near ~$0.90 would reset the count and extend the timing, but the most important thing for the new trend is simply not making a new low. And I'm staying prepared for the other possibility. If XRP finally breaks through this resistance with strength and pushes toward ~$1.80, that gives price room to come back and potentially flip $1.65 from resistance into support. THAT would be a major sign of strength! ✍️If we're truly pivoting into the new trend I've been tracking, we're going to have plenty of retracements to buy in as the subwaves develop toward $10, $13, $16 and beyond. Don't sleep on these prices today! #xrppriceprediction #Cryptomarket #Crypto