WHY XRP FAILS TO HOLD $3?

XRP's inability to hold above $3 is attributed to several factors, including :

-Deliberate Suppression: Some analysts believe XRP's price is being intentionally suppressed due to its potential to disrupt the financial system and expose systemic flaws. XRP's ability to offer real-time settlement and cross-border liquidity makes it a threat to legacy financial institutions, leading to coordinated efforts to keep its price in check.

Correlation with Bitcoin: XRP's price movement still follows Bitcoin's four-year halving cycle, which might limit its independent growth. Analysts suggest that XRP needs to decouple from Bitcoin's cycle to reflect its true value.

Declining Open Interest and Network Activity: Weakening network activity and declining open interest in XRP futures indicate a lack of trader confidence. Open interest has fallen by 30% in a month, and daily active addresses have plunged from 577,000 to 34,360, signaling a major loss of momentum.

Bearish Chart Patterns: XRP's chart shows a descending triangle pattern, which often precedes a price drop. If this pattern plays out, XRP could fall 45% to around $1.20.

Overbought Conditions: XRP's Relative Strength Index (RSI) is above 80, indicating extremely overbought territory. This can lead to a strong retracement, making it challenging for XRP to sustain above $3.

Lack of Conviction: Traders aren't betting on a breakout, and the current price behavior suggests hesitancy and indecision. Until XRP breaks through key resistance levels, it may remain stuck in consolidation.

Currently, XRP is trading around $2.89, with key support levels at $2.6, $2, and $1.6, and key resistance levels at $3 and $3.3 .#CPIWatch #BTCWhaleTracker #USCryptoWeek #MemecoinSentiment $XRP