TL;DR

XRPs inability to overcome a crucial resistance could spell further trouble for the token, which has already retraced quite a bit after its July all-time high of $3.65. In the meantime, the community is split about the assets potential and overall value.

XRPUSD. Source: TradingView After managing to do what many considered impossible in July and set a new all-time high at $3.65, Ripples cross-border payments token failed to maintain its momentum and slipped below $3 within weeks, perhaps driven by some profit-taking.

Although it bounced off and challenged $3.3 on several occasions, it ultimately failed to rise above it and has remained below that level for the past two weeks.

Most recently, the asset went after the $3.1 resistance, but was stopped in its tracks once again on a couple of occasions since last Friday. Its inability to retake that level could mean a price drop to $2.83 next, according to popular crypto analyst Ali Martinez.

$XRP failed to break $3.10 and could retrace to $2.83! pic.twitter.com/1FyAErJ5yc

Whats perhaps even more concerning about XRPs future is the fact that on-chain data shows big sell-offs by Ripple whales. These exit strategies have intensified in the past several weeks, perhaps due to XRPs explosive growth in the past year.

Separately, the crypto community on X engaged in a heated debate about XRPs potential, growth, sustainability, and overall market performance. One side of the camp, led by retail investors, sided with the asset and its fan base, indicating that it has a substantial role not only in crypto but in global finance.

The other side of the coin, though, was represented by institutions and professional traders/holders, who, according to attorney John Deaton, are highly against the asset. In fact, he categorized it as the most hated crypto by institutions.