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- The XRP price is recovering within a descending wedge pattern, targeting the $2 breakout level.
The Ripple price has increased by more than 2% as of this report on Monday, approaching the resistance line of the descending wedge pattern on the daily logarithmic chart, near $1.94. If Ripple manages to break above this resistance line, it could target the 50-day exponential moving average at $2.06.
The Relative Strength Index (RSI) is at 45, approaching the midline, indicating decreasing selling pressure. Meanwhile, the MACD continues its bullish trend after crossing the signal line on Saturday, signaling renewed bullish momentum.
Daily logarithmic chart of the XRP/USDT pair.
On the other hand, if the XRP price drops below $1.90, it could target the S1 pivot point at $1.79.