Evaluation of Ripple's Value: Is XRP's Momentum Depleting After a 9% Weekly Surge?

Ripple's price has reached a significant level at the $2.4 mark, which is in line with key resistances, and there seems to be insufficient bullish momentum. This could result in a sideways consolidation before a breakout. The $2.4 zone, which aligns with the upper boundary of a long-standing wedge pattern and the 100-day moving average, presents a formidable barrier for bulls.

The market is likely to see a period of sideways consolidation due to the lack of adequate demand and momentum. On a lower time frame, a potential three-drives pattern suggests buyer exhaustion at the $2.4 mark. Even if Ripple breaks above $2.4, the next challenge is around $2.5, and the crucial $3 mark can only be targeted after overcoming these levels.

However, a minor pullback seems likely in the short term.