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XRP Returns to $2.40 in Price U-Turn: What Comes Next?
After a brief pause, the price of XRP has regained its momentum, returning to the $2.40 mark and hinting at a potential comeback. However, for now, it seems like the asset is stuck within a consolidation zone.
It’s crucial to note that the recent recovery is not supported by any significant on-chain activity or volume confirmation. This absence of substantial market interest has led many analysts to remain cautious about declaring an outright bull run just yet.
The $2.95-$3.00 level appears to be providing resistance, while the $2.30 support could potentially define XRP’s next direction. As a result, investors should keep a close eye on these levels for any signs of price action reversal or further consolidation.
It is essential to remember that XRP’s current on-chain strength is still crucial, but without corresponding volume confirmation and clear movement above the 50 EMA, the picture remains uncertain.
For now, it seems like XRP has stabilized around $2.40, which could be a critical moment for investors deciding whether to join the recovery rally or await further confirmation before entering the market.
Sources:
[1]
Source: https://u.today/xrp-hits-27-million-milestone-teasing-price-comeback
