XRP Struggles to Break $3.00 Amid Prolonged Market Consolidation
XRP has been stuck in a prolonged consolidation phase, preventing the altcoin from reaching the $3.00 mark this year.
As January 2025 approaches, the likelihood of XRP achieving this milestone remains slim, with market conditions and technical indicators suggesting that any significant rebound will be delayed.
XRP in trouble
The NVT (Network Value to Transaction Value) ratio indicates that XRP’s network value is currently exceeding its transaction value. Historically, this imbalance precedes a correction, as inflated network valuations are often accompanied by investor losses.
Such market conditions create an environment in which recovery becomes challenging. Without increased transaction activity to support its network value, XRP faces The risk of secular stagnation or potential downside has increased, limiting its short-term growth prospects.
The MACD (Moving Average Convergence Divergence) indicator adds to the bearish outlook, with no signs of a bullish crossover at the moment. This lack of momentum is unlikely to change as 2025 begins, with the bearish crossover reflecting broader negative market cues.
This technical indicator suggests the downtrend will continue XRP under pressure. The altcoin may struggle to break out of the current consolidation range before a reversal occurs and could face further losses if selling pressure intensifies.
XRP Price Prediction: Stay Here
Ripple has It has been consolidating for the past month, remaining trapped below the $2.73 resistance while hovering above the $2.00 support. This pattern reflects a more than three-month consolidation period for XRP before finally rebounding in November this year, raising the possibility of a similar timeline.
If history repeats itself, XRP may not break $3.00 until the end of February 2025. Any significant sell-off during this prolonged consolidation could push the altcoin as low as $1.28, exacerbating investor losses.
However, shifts in broader market sentiment could change XRP’s trajectory. A break above the $2.73 resistance could push the price to $3.00, negating the bearish outlook and signaling a new bullish phase for the altcoin that could even push XRP to new all-time highs above $3.31.
Post XRP struggles to break above $3.00 amid prolonged market consolidation first appeared in bein encryption.
