Technical indicators are suggesting that XRP may face a potential pullback before reclaiming the $3 resistance level. The token is currently showing a sell signal, with the TD Sequential indicator indicating trend exhaustion. Selling pressure could bring support levels at $2.50 and $2.35 into focus. However, some analysts believe the token's long-term bullish setup remains intact, comparing its current pattern to its 2017 breakout. XRP recently broke past a key resistance level, setting the stage for a potential rally towards $5. Regulatory developments, including a potential resolution in Ripple's legal battle with the SEC and the SEC's review of a spot XRP ETF, could also impact XRP's price. Currently, sentiment around XRP is bearish in the short term but bullish in the long term. The token is trading at $2.58, down over 3% in the last 24 hours but up 3.4% on the weekly timeframe.



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