Following a volatile week that brought XRP back under the $3 mark, the token is now consolidating near a crucial resistance area. Traders are watching closely to see whether this pause leads to renewed strength or further decline.

Against this backdrop, EGRAG CRYPTO (@egragcrypto), a popular crypto analyst, has shared an updated chart highlighting where XRP may be headed next.

The chart, based on a long-term logarithmic regression channel, illustrates XRP’s historical price cycles and highlights the asset’s tendency to revisit upper trend levels after extended consolidation.

XRP entered the current consolidation phase after recording an all-time high of $3.65 in July. It has consolidated around $3 for some time. This recent decline has shaken the confidence of many investors who hoped the asset would repeat its performance from July.