XRP price is facing rejection from a crucial resistance zone, signaling a potential bearish pullback with mixed technical signals but somewhat bullish market sentiments.
Recent XRP transfers of over $350 million by Ripple and Crypto.com suggest OTC deals or liquidity provisioning, along with Ripple burning 4M RLUSD amid stablecoin strategy adjustments.
XRP price remains in a critical phase with indicators showing signs of potential bearish trend, including a convergence of 50/200-day MA and a bearish crossover possibility.
XRP price expected to consolidate between $2.5 and $2.6 in the short term, with a potential breakout towards $2.83 and further rise towards $3 and possibly new ATH, indicating a path to higher levels.