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08/11 02:05

Despite recent volatility, XRP's long-term bulli

Despite recent volatility, XRP's long-term bullish potential is unaffected, meaning investors can still aim for $5. After a robust rally in July that took it from the $2.40 range to almost $3.60, the asset is currently consolidating at $3.20. The fact that XRP is still above critical moving averages even though the momentum has slowed indicates that the uptrend is still intact.

Technically speaking, XRP is currently capped on upward movements in the $3.35-$3.40 range by a descending trendline resistance from its late-July highs. Bulls are prepared to push toward the $3.60 mark once more, which is the final significant obstacle before aiming for $4.00 and ultimately $5.00. A breakout above this level would be a clear indication of that.

Although it won't happen right away, the $5 path is by no means unattainable. The recent price movement of XRP has demonstrated that the asset can produce quick gains once momentum starts to build.

Good sentiment in the cryptocurrency market, expanding acceptance in payment systems and solid fundamentals could all act as catalysts for such a move. Important support levels are located at the 50-day EMA ($2.79) and the 20-day EMA ($3.05). Long-term investors may view any pullbacks into these zones as opportunities for accumulation as long as these levels are maintained, which would keep XRP in a bullish structure.

The $5 dream is still alive even though short-term price fluctuations and trendline resistance might cause hesitancy. To make it happen, XRP needs to firmly regain the $3.60 zone, which will pave the way for a surge toward the psychological $4.00 barrier, after which $5 becomes a feasible benchmark.

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