XRP Consolidation Could End Once It Clears $2.60 – Top Analyst Expects $4 Soon
XRP entered a consolidation phase after hitting multi-year highs of $2.90 in the first week of December. The cryptocurrency’s price action has left investors uncertain about its next move, fueling speculation about whether XRP will break through the key $3 mark or whether a cycle top has been set. This hesitant environment reflects a general trend of caution among market participants as the future of XRP remains unclear.
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Renowned cryptocurrency analyst Ali Martinez recently shared some insights suggesting that XRP has been trading in a bull flag pattern, a classic continuation signal in technical analysis. Martinez said the key to unlocking XRP’s next rally is overcoming resistance at $2.60. A breach of this threshold could set the stage for XRP to break above $3 and potentially explore higher price levels.
The $2.60 level has emerged as a key battleground for bulls and bears as the market keeps a close eye on XRP’s movements. As momentum builds and the broader cryptocurrency market shows strength, XRP’s ability to break free Looking at its consolidation phase could determine whether it sets new highs or faces a potential reversal. For now, all eyes are on its next big move.
Preparing for your next rally?
XRP has been in a volatile consolidation phase since December 3, experiencing a 34% correction followed by a 36% rebound, but remains below the local high of $2.90. This price action reflects the tug-of-war between bullish momentum and market hesitancy as investors speculate on XRP’s next move. Despite the back and forth, XRP’s structure shows promise for another major rally.
Top analysts and investors Ali Martinez recently provided insights on XRP priceshared a technical X analysis that highlights the current bull flag pattern. According to Martinez, this setup suggests that a continuation of the upward trend is possible once XRP breaks through the key resistance level of $2.60. Martinez predicted that if such a breakout occurs, XRP may “start competing” to target the ambitious $4 price level.
The $2.60 resistance is key for XRP to break out of the current range, and a successful move above this level could spark bullish momentum. Furthermore, a return to the local highs of $2.90 would mark the beginning of price discovery, with XRP expected to break through its next psychological milestone of $3.31.
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As XRP consolidates, its future depends on overcoming these resistance levels. The current bull flag pattern and broader market sentiment suggest there is potential for a breakout, but the timing and magnitude of the move remain uncertain. Investors continue to pay close attention to confirmation signals.
XRP Price Action: Levels to Watch
XRP is trading at $2.57, approaching the key resistance level of $2.64. This price point will be crucial for XRP’s near-term moves, as clearing it would open the door to a test of local highs at $2.90. A break above these levels in the coming days could trigger a massive rally, potentially pushing XRP into uncharted territory above all-time highs (ATH).
The $2.64 mark is a key hurdle that must be breached to confirm the bullish momentum. If XRP manages to break through this barrier, it could attract new buying interest, accelerating its rise. A move above $2.90 would further validate the strength of the trend and set the stage for a sharp move higher.
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However, failure to break $2.64 could leave XRP vulnerable to downward pressure. In this case, maintaining support above $2.33 will be crucial to avoid further pullbacks. Losing this level could signal a shift in sentiment that could lead to a more pronounced pullback.
Featured image from Dall-E, chart from TradingView
