Ripple is currently experiencing a phase of low volatility, with its price fluctuating within the pivotal $2-$3 range. This consolidation period suggests market indecision, with a breakout likely to define XRP’s next mid-term trend.
Currently, the cryptocurrency is anchored at the $2 support zone, a level bolstered by historical significance as a prior swing high and a concentration of demand. It is acting as a crucial barrier, halting further downside movement and keeping Ripple within its consolidation range. The price is testing the wedge’s lower boundary near the critical $2 support zone, where heightened buying activity is expected. This zone is further reinforced by the significant 0.5 -0.618 Fibonacci retracement levels, underscoring its importance as a robust support area.