Ripple’s native token XRP has been struggling to climb above the $2.5 range since March this year. Its price has mostly remained stagnant in the last three months with little to no upward growth trajectory. The development is testing the patience of investors as the bulls are aiming for the leading altcoin to reach $3. Despite Bitcoin climbing above the $105,000 mark this week, the altcoin has failed to sustainably scale up in the indices.
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Ripple XRP Stagnates, Will It Move Up or Down Next?
Price stagnation is a cause of concern indicating that the bears could soon take charge of the altcoin. Ripple’s XRP is trading at a close range between $2.4 to $2.2 for a month and moving beyond that. It is unable to pull its weight above the $2.4 mark despite multiple attempts even when the markets turned bullish. Once when Trump’s 90-day tariff pause ends, the markets could turn more volatile and unstable for both stock and cryptocurrency investments.
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There are chances of the leading altcoin heading south next as it is unable to hold on to its resistance level of $2.40. Taking an entry position now could prove dangerous as the downward trend is higher than the upward. XRP has also signaled a head and shoulders pattern in the charts that could lead to a price dip. Ripple is now in risky waters as it is unable to support its current price level.
It’s been more than seven years since Ripple’s XRP was unable to breach its all-time high of $3.40. Even after enjoying multiple bull runs in the last seven years, it failed to boost itself in the charts. It is best to wait for further dips below the $2 range to take an entry position. The leading altcoin could take more time to bottom out due to stagnation but accumulating below the $2 mark could prove beneficial.
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