Evaluation of Ripple's Price: Is XRP Preparing for a Major Shift Following Consolidation?

Following a liquidity surge that pushed Ripple (XRP) beyond the $3.4 high, a significant drop towards a key support level was observed, suggesting that the cryptocurrency may be entering a consolidation phase. XRP's upward trajectory, fueled by buy-side liquidity, was abruptly followed by substantial selling pressure, pushing its value back towards a vital support region near the $2.7 mark, in line with the 0.5 Fibonacci retracement level.

This area is expected to serve as short-term support, leading to consolidation within the $2.7-$3.4 range, assuming the structure holds, and the price remains range-bound. A legitimate breakout from this range could trigger a major directional move. Traders are advised to be vigilant and wait for a confirmed breakout before making their next move.