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XRP just can't seem to break above the $1.44 mark. I've been watching this for a while now - the price jumps up, but then sellers immediately come in and push it back down. The classic pattern of a failed breakout attempt. The thing is: Bitcoin, after rising above $80,000, has seen significant profit-taking, and that is pulling the entire altcoin scene down with it.
The annoying part of the situation is the delay of the 3x leveraged XRP ETFs from GraniteShares. They were supposed to launch on May 7th and would have given a speculative push. Now, XRP is stuck between $1.40 and $1.44 for the time being. I see too many profit-taking actions in the market to be bullish right now.
Technically speaking: $1.44 is the resistance, $1.40 the support. As long as profit-taking continues, XRP will probably stay within this range or even fall below. The volume during the breakout attempt wasn't strong enough - a classic sign of consolidation before the next move. Let's see if it moves downward or if we regain strength next week.