Digital currency Ripple (XRP) has been in a long phase of price stabilization in 2024 and has failed to reach the $3 price level. As we approach January 2025, the likelihood of reaching this level still seems weak due to market conditions and technical indicators pointing to a significant delay in any notable upward movement. The Network Value to Transactions Ratio (NVT) indicates that Ripple’s network value exceeds its transaction value, which usually leads to a price correction. Additionally, the Moving Average Convergence Divergence (MACD) indicator presents a bearish outlook, suggesting a continuation of the downward trend until early 2025. In the past month, Ripple’s price has been fluctuating between the $2.73 resistance and the $2 support. If a similar pattern to the previous cycle recurs, the price is unlikely to reach $3 by the end of February 2025. However, if selling pressure increases, the price may even drop to $1.28, resulting in further losses for investors. Conversely, if market sentiment changes and the price manages to break the $2.73 resistance, there is a possibility of an uptrend towards $3 and even setting a new record above $3.31, indicating the beginning of a new bullish trend for this digital currency.
