The post XRP targets $3: Should you wait for more gains or dump to break even? appeared on BitcoinEthereumNews.com.

XRP encountered strong resistance near the $3 barrier, as profit-takers began cashing out.  The decision to HODL will depend on both internal and external factors moving forward. Among the top altcoins, Ripple [XRP] was strategically positioned by bulls to ride the wave of the Trump-pump. With an explosive monthly surge of over 300%, XRP became the talk of the market, drawing in both seasoned investors and eager newcomers. As a result, in just 30 days, XRP shattered not one, but two key resistance levels. After reclaiming the $1 mark, it kept building momentum, defying the signs of an overheated market, and charged past the $2 resistance just a week ago. This breakout, following three years of consolidation, understandably led to heavy profit-taking, as investors likely feared a potential correction. Dumping XRP seemed like the safest bet. But here’s where it gets interesting: Market makers are still bullish on a $3 breakthrough. This sets the stage for XRP to smash its all-time high, sparking FOMO across the board.  Now, this leaves traders in a classic dilemma – cash out now and secure gains, or hold on in hopes of an even bigger surge? XRP needs ‘consistent’ bull support On the daily price chart, XRP has consistently shown signs of profit-taking after testing each resistance, with a maximum of four consecutive downtrend days. Interestingly, the fifth day often signals a strong rebound, bringing XRP back into full swing. This pattern suggests that bulls are confident in countering any bearish divergence, making a $3 breakthrough not just plausible, but increasingly realistic. However, this momentum alone won’t suffice. Just three days ago, XRP came close to $3, closing at $2.8 – the highest price of the day – after four straight days of long green candlesticks, each delivering higher highs exceeding 15%. Source :…

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Filed under: News - @ December 7, 2024 1:23 am