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Title: $3 XRP Might Not Be Possible Now
According to the latest analysis, it seems increasingly unlikely for XRP to reach the $3 mark in the near future. The current market conditions do not favor a quick recovery, as XRP has been struggling to regain momentum and break above its main moving averages.
The chart illustrates why expectations of an immediate rally towards $3 are becoming less realistic. In recent weeks, XRP has been unable to generate any significant upward movement, remaining trapped below its major exponential moving averages (EMAs), specifically the 50 and 100 EMAs.
Furthermore, a potentially crucial indication is emerging in terms of trading view. The narrow range created by this EMA squeeze often precedes a breakout, but at present, it can just as easily be a downward breakdown. Daily candles are showing incredibly low ranges and volume is plummeting to multi-month lows.
This stability is critical for XRP since the token’s past experience indicates that it requires substantial spikes in liquidity and momentum to overcome resistance levels. Even modest upward targets seem ambitious when speculative capital fails to return to the market. Both bears and bulls demonstrate indecision and lack of conviction, as the Relative Strength Index (RSI) hovers around 45.
In order for XRP to even consider reaching $3, it would initially need to break decisively above this dense cluster of resistances.
Source: u.today
