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XRP has entered a consolidation phase after reaching a multi-year high of $2.90 in the first week of December. The cryptocurrency's price action is giving investors uncertainty about its next move, fueling speculation about whether XRP will break above the crucial $3 mark or whether the cycle's upper limit has already been set. This indecisive environment reflects widespread caution among market participants as XRP's future remains uncertain.
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Renowned crypto analyst Ali Martinez recently shared insights suggesting that XRP is trading within a bull flag pattern, a classic continuation signal in technical analysis. According to Martinez, the key to unlocking XRP's next rally is to overcome the $2.60 resistance level. A break above this threshold could allow XRP to explore even higher price levels above $3.
As the market watches XRP closely, the $2.60 level has become an important battleground for bulls and bears alike. With momentum building and the broader crypto market showing strength, whether XRP is able to break out of its consolidation phase could determine whether it hits new highs or faces a possible reversal. There is. For now, all eyes are on the company's next big move.
Are you preparing for your next rally?
XRP has been in a volatile consolidation phase since December 3, experiencing a 34% retrace and subsequent 36% rebound, but remains below the local high of $2.90. This price movement reflects the tug of war between bullish momentum and market hesitation as investors speculate on XRP's next move. Despite the ups and downs, XRP’s structure points to the potential for further significant upside.
Top analyst and investor Ali Martinez recently shared technical X analysis that provides insight on the price of XRP and highlights the current bull flag pattern. According to Martinez, this setup indicates that the uptrend could continue once XRP clears the important $2.60 resistance level. If this breakout occurs, Martinez predicts that XRP could be “in the race” targeting an ambitious $4 price level.
XRP Consolidates into Bullish Flag | Source: Ali Martinez of X
The $2.60 resistance is the key to breaking XRP out of the current range, and a successful break above this level is likely to trigger bullish momentum. Furthermore, regaining the local high of $2.90 would signal the start of price discovery, with XRP poised to surpass the next psychological milestone of $3.31.
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As XRP strengthens, its future depends on overcoming these resistance levels. The current bullish flag pattern and broad market sentiment suggest a potential breakout, but the timing and strength of the move remain uncertain. Investors continue to monitor closely for signs of confirmation.
XRP price fluctuations: Remarkable levels
XRP is trading at $2.57 and approaching the key resistance level at $2.64. This price point is crucial for XRP’s near-term trajectory, as clearing it would pave the way for a test of the local high of $2.90. Breaking through these levels in the coming days could result in a massive rally and push XRP into uncharted territory above its all-time high (ATH).
Price Test of Significant Supply | Source: XRPUSDT Chart on TradingView
The $2.64 mark is an important barrier that must be crossed to confirm bullish momentum. If XRP can successfully overcome this hurdle, it will likely attract new buying interest and accelerate its upward trend. A break above $2.90 would further prove the strength of the trend and set the stage for a significant move higher.
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However, if XRP fails to break out above $2.64, it could become susceptible to downside pressure. In this scenario, it is important to hold support above $2.33 to avoid a more severe correction. Losing this level would indicate a change in sentiment and could lead to a more pronounced retracement.
Featured image from Dall-E, chart from TradingView
