XRP Price Stalls with No Bull Run Expected Before November

XRP's price action has entered a stagnant phase, according to crypto strategist Dr Cat. He noted that the opportunity for bullish movements was missed, especially in relation to the dollar and Bitcoin pairs.

XRP Price Analysis

XRP-USD is currently around $2.14 after failing to reclaim resistance near $2.35.
Previous attempts to break out were unsuccessful, leading to two consecutive closes within the Ichimoku cloud.
The Tenkan-sen has fallen below the Kijun-sen, indicating reduced short-term momentum.
Significant selling pressure on lower timeframes persists, with XRP/BTC dropping to 2041 satoshis.
If it holds above 2041, a potential breakout could occur in November when market conditions are more favorable.
In the medium term, the weekly analysis shows no bullish indicators; prices are widening in the kumo area.
A potential decline to $1.89 is highlighted as a key support level; below that, support weakens until $1.70.
Despite current challenges, Dr Cat does not declare a bear market, noting that the three-day trend remains stable.
A push toward $2.40 could happen if support is maintained into July, but significant resistance exists at that level.
Dr Cat emphasizes patience, setting November as a crucial timeframe for potential upward movement.

At press time, XRP traded at $2.17.