XRP profit-taking signals ‘weakness’: Will it delay recovery to $3?

💡 DMK Insight

XRP’s recent surge to $2.54 is impressive, but the looming resistance at $2.80 could stall further gains. With a 240% spike in profit-taking, it’s clear that traders are wary, suggesting a potential pullback if the price fails to break that resistance. This caution reflects broader market sentiment, where volatility remains high, and profit-taking is becoming a common strategy. If XRP can push past $2.80, it might trigger a new wave of buying, but until then, traders should be prepared for possible retracements. Keep an eye on volume levels; a significant increase could indicate strong buying interest, while declining volume might suggest weakening momentum. Also, watch for correlated movements in other altcoins, as XRP often influences and is influenced by the broader crypto market. If Bitcoin or Ethereum show weakness, XRP could follow suit, making it crucial to monitor those assets as well.