XRP price breaks falling channel as bulls target $1.53

$XRP price traded near $1.45 on Sept. 4 after breaking above a falling 4-hour channel, but resistance between $1.50 and $1.53 remains the next test for buyers.

$XRP price action today

According to data from crypto.news, $XRP ($XRP) price was changing hands near $1.45 on Friday, consolidating after a sharp recovery from its early September low near $1.33.

The token briefly reached approximately $1.47 during the latest advance before losing some momentum. Even so, the pullback has remained shallow compared with the size of the breakout.

$XRP’s 4-hour chart shows that price has moved above the upper boundary of a descending channel that had guided the market lower since its Aug. 22 rally. The channel formed after $XRP spiked to a local high near $1.70 and then recorded a series of lower highs and lower lows.

The breakout occurred near $1.37 and was followed by a rapid move above $1.45. $XRP is now holding above the former channel resistance, leaving the short-term bullish structure intact while that level remains defended.

The Awesome Oscillator stands at 0.0669 and continues to print positive bars. The reading indicates that short-term momentum remains stronger than longer-term momentum, although the latest bars show that the initial acceleration may be slowing.