Analyst Predicts Most Probable Outcome for Ongoing XRP Price Surge

XRP's Current Market Status: Crypto analyst Galaxy indicates that XRP is experiencing a healthy consolidation phase after a significant rally, suggesting a bullish continuation is likely.

Rectangular Consolidation Pattern: The chart shows XRP trading within a sideways channel, indicating a temporary balance between buyers and sellers, which historically leads to upward price movement.

Key Price Levels: XRP is currently trading around $2.90, with critical support above previous resistance levels; a close above $3.30 could confirm a breakout.

Analyst Consensus: Other analysts agree with Galaxy's outlook, viewing the current consolidation as an accumulation phase, while cautioning about potential risks of false breakouts or prolonged sideways movement.