Ripple’s XRP price has been stagnant while Bitcoin and Ethereum have surged to new highs.
Cryptocurrency analysts point out crucial support levels for XRP at $2.3 and $2, but the asset could retrace towards the latter support level.
Market conditions, changing investor sentiment, and XRP's tokenomics, with a billion new coins released monthly, are cited as reasons for XRP's lackluster performance.
To break out of its consolidation phase, XRP may need a significant shift in investor behavior, market improvements, big partnerships, or acquisitions.