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Ripple's XRP is currently consolidating for a long period of time without significant price adjustments. Instead, the market is consolidating sideways, suggesting a period of consolidation within the overall rising trend. At the time of writing, XRP has dropped by over 2%, trading at $2.17.
The rise trend is still continuing
Despite being in a sideways state at the moment, the overall trend of XRP remains bullish. The price movement appears to be a temporary pullback rather than the beginning of a downtrend. If the price continues to rise, it could challenge its historical high of around $3.25 to $3.30, which is also in line with key Fibonacci levels.
Stay above the high point in 2021
One thing to note is that XRP remains above the 2021 high of $1.96. This is a strong signal of market strength. Maintaining this level is crucial for XRP to continue its positive momentum, as long as the price stays above this level, the market outlook remains favorable.