#XRP reaching point that could be considered "readjust" threshold.

At this crucial point, XRP has the potential to change the course of the upcoming weeks. Given that the asset is trading in a narrow channel around the $2.14 level, the recent price performance presents a classic example of stagnation. Moreover, there are unmistakable indications that XRP is forming what appears to be a local double-top pattern which precedes a bearish retreat. The 50 and 100 EMA resistance levels, which are grouped around $2.22 and $2.23 on the daily chart, have frequently been tested by XRP. Buyers have responded in a mediocre fashion to each strategy, and there is no indication of a clear breakout. After brief rallies, the price continues to decline, indicating that market participants are either unable or unwilling to commit to long-term accumulation.

Volume metrics confirm that participation is at an excruciatingly low level. We would anticipate a discernible spike in volume as XRP gets closer to resistance if this were a true bullish setup. Rather, turnover is declining, suggesting that the majority of investors are holding out. Any rally attempt runs the risk of rapidly failing because of a lack of conviction as a result of this.

For this reason, we can think of the current stage of XRP as a price readjust. The market is successfully removing weak hands, rebalancing sentiment and getting ready for the next push either upward or downward. The risk of a retest toward the 200 EMA, which is currently serving as the most significant support, is highlighted by the double-top scenario around $2.10.

A deeper correction may result from the readjust if that level is broken. In contrast, XRP would disprove the double-top theory and pave the way for a long-term breakout toward $2.40 if it could rise above the $2.23 resistance and hold with believable volume expansion. Traders need to exercise caution.

Indecision is indicated by momentum indicators, particularly the RSI, which is centered on 50.