The native token of Ripple Labs, XRP, has been consolidating within a tight range between $2.31 and $2.53, acting as a crucial support level. This consolidation has led to potential accumulation and buying pressure, as shown by an outflow of $12 million worth of XRP from exchanges. On-chain metrics suggest that traders are confused, with both long and short positions being over-leveraged at different levels. Expert technical analysis indicates that if XRP breaks out of consolidation and closes above $2.53, it could surge by 30% to reach $3.30. Despite market uncertainty, XRP is trading above the 200 EMA, suggesting an uptrend. Currently trading near $2.40, XRP has experienced a 2.50% price drop but has seen increased trading volume compared to the previous day.



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