$XRP Higher Timeframe UpdateXRPUSDTPERP PERPETUAL MIX CONTRACTBITGET:XRPUSDT.PLeo524XRP Higher Timeframe Update The 1-week chart is still bearish. Price continues to print lower highs and lower lows, so the short-term trend remains in favor of the sellers. However, the monthly chart tells a different story. If we zoom out, XRP is gradually approaching a long-term ascending support channel that has been respected for years. Price hasn't reached this support yet, but it's getting close enough to make this one of the most important areas on the chart. I'm not interested in buying before confirmation. What I want to see is buyers defend this support, followed by strong monthly bullish candles and the formation of higher lows. That would be the first sign that momentum is shifting back to the upside. If that happens, I'll be watching for a move toward the previous major resistance. Until then, patience is the key. Let the market come to the level first, then wait for confirmation instead of trying to predict the bottom.