XRP reached a multi-year high of $2.90 in early December and has since entered a consolidation phase, leaving investors uncertain about its next move and whether it can surpass $3. Prominent analyst Ali Martinez says XRP is in a bull flag pattern and that breaking above the $2.60 resistance level is key to its next rally. If it clears this, it could push past $3 and potentially reach $4.
Since December 3, XRP has had a volatile consolidation with a 34% retrace and a 36% bounce, remaining below its local high. The $2.60 resistance is crucial for breaking out of its current range, and reclaiming the $2.90 high would start price discovery.
XRP is trading at $2.57, nearing the critical $2.64 resistance. Clearing this could lead to testing the $2.90 high and spark a rally. Failing to break above $2.64 could expose it to downside pressure, and maintaining support above $2.33 is important to avoid a deeper correction.
Related topics:
XRP’s Volatile Ride: After Surge, Facing Key Support Test
Ripple’s Investment in Bitwise’s XRP ETP and Market Developments
