For two weeks, XRP has been in a consolidation phase, unable to reach a new all-time high. While holding above $2.95 support, the token lacks the momentum needed for a breakout.
XRP Faces Growth Challenges
XRP has remained in a consolidation phase, preventing it from establishing a new all-time high. Support at $2.95 is crucial, but the momentum needed for a breakout is lacking. A shift in investor sentiment could change the asset's trajectory.
Network Data and Long-Term Holders' Position
Recently, XRP transaction volumes have shown a dominance of losses, impacting market confidence. If this trend continues, traders might reduce participation, negatively affecting price and risking a drop below key support levels. However, long-term holders remain in profit, indicating confidence in XRP's potential.
XRP Price Predictions
XRP is in a micro uptrend, bouncing off $2.95 support. The cryptocurrency is close to surpassing its all-time high of $3.40. If buying pressure increases, XRP may break this resistance and set a new record. However, if XRP retests and fails to hold $2.95, bearish pressure could increase, potentially falling to $2.73 or lower. Holders should watch $2.95 and $3.40 as crucial levels for the next move.
XRP’s future largely depends on holding the $2.95 support level and retaining long-term investor confidence. If bullish momentum strengthens, XRP could break out of its consolidation phase and reach a new all-time high. However, failure to hold support could lead to a deeper correction, delaying the asset's next major move.
