The post Can XRP Break Its Consolidation Phase and Reach a New ATH? appeared on BitcoinEthereumNews.com.

XRP has been consolidating for two weeks, struggling to gain momentum for a breakout. Short-term investors are facing losses, while long-term holders (LTHs) remain resilient. If the coin holds $2.95 support, an uptrend could push it past its $3.40 all-time high (ATH). XRP has remained in a consolidation phase, preventing it from establishing a new all-time high (ATH). While the altcoin continues to hold above $2.95 support, it lacks the momentum needed for a decisive breakout. However, a shift in investor sentiment could change this trajectory. XRP Investors Face Losses as Market Confidence Wanes On-chain data shows that XRP transaction volume has been dominated by losses over the past two weeks. As the altcoin struggles to push past key resistance levels, more investors are selling at a loss, impacting market confidence. If this trend persists, traders may reduce participation, leading to lower transaction activity. A decline in on-chain engagement could negatively impact XRP’s price, increasing the risk of prolonged consolidation or a drop below key support levels. XRP Transaction Volume in Loss. Source: Santiment Despite short-term volatility, long-term holders (LTHs) remain in profit, according to the MVRV Long/Short Difference metric. These investors haven’t moved toward selling, signaling confidence in XRP’s long-term potential. As long as LTHs continue to hold, XRP is less likely to experience a major correction. This resilience could provide the foundation for an uptrend, especially if broader market conditions remain supportive. Price Prediction: Will It Set a New ATH? XRP is currently in a micro uptrend, bouncing off $2.95 support. While the altcoin briefly dipped below this level, it quickly recovered, reinforcing bullish momentum. The cryptocurrency is now less than 10% away from surpassing its all-time high of $3.40. If buying pressure increases, XRP could break through this resistance and set a new price record in the coming…

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Filed under: News - @ February 1, 2025 3:18 am