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The encryption market has been very cold to most altcoins during the adjustment period. However, Ripple's XRP price has remained above the psychological level of $3. On Monday and Wednesday, the XRP price tested this level again, but each time quickly Rebound. Since January 16, Ripple has been trading within a flag pattern, with a significant barrier at $3.20, breaking this barrier may confirm a rise trend.
The long-term outlook of the market remains bullish, while the short-term price momentum of XRP is unclear. In the upward trend, $3.50 will be an interesting resistance level to watch, while $2.90 will serve as a threshold in a downward scenario. On the 4-hour chart, a breakthrough of $3.15 in XRP price may trigger a short-term squeeze, pushing the token towards new all-time highs.