#XRP Out Of Billion Club, Volumes has been not supporting

Given the daily network volume, XRP is no longer a member of the billion XRP club. A significant on-chain volume helped the asset's price quickly recover, but as whales retreat, it may be over. No matter how much resistance sellers put up, XRP has also demonstrated that it is not prepared to give up on breaking through the $3 psychological barrier.

Surprisingly resilient and persistent, the asset has refused to reverse significantly after failing to push past $3.02 in last week's explosive breakout, instead consolidating just below the milestone level. Because of the size of the move, the chart's structure is as bullish as it gets. All of the major moving averages are still far above XRP's current price action, while the 200-day EMA and the 50-day EMA are far below.

Despite temporary profit-taking, the market is still clearly skewed in favor of the bulls, as evidenced by the large discrepancy between spot price and trend indicators. Despite a slight slowdown from the initial spike, volume is still high when compared to previous months, indicating that participation has not decreased. 

The RSI, which is circling 80, is even more telling. There was a brief decline to the mid-$2.80s following the previous attempt to break $3, which was met with predictable selling at $3.02. Instead of collapsing, however, XRP immediately returned to the $2.90 range, where it has remained for a number of sessions. This pattern clearly indicates that buyers are taking advantage of every slight decline as a chance to enter the market. 

Next steps: if XRP successfully breaks and hold above $3.02, it may lead to a fresh round of momentum-driven buying that drives the price closer to the next resistance level, which is around $3.30. On the down side, any retrace that remains above $2.70 ought to be regarded as a sound reset rather than the beginning of a reversal.