XRP is currently pushing against a potentially bearish pattern, with hopes of breaking through and reaching a new all-time high (ATH). While this pattern may seem negative, it presents an opportunity for a turnaround, relying heavily on the support of long-term holders (LTHs) who believe in the future potential of the altcoin.

The Mean Coin Age (MCA) data indicates that LTHs are holding onto their positions rather than selling off, showcasing their optimism and dedication to XRP. Their backing is essential for any potential price recovery, as they are considered the backbone of the cryptocurrency market.

As long-term holders maintain their positions, the confidence in XRP's future grows, potentially leading to a surge in its price. Their belief in the coin's potential could be the driving force behind XRP reaching a new ATH if they continue to uphold the price during this phase.

In the broader market, XRP's macro momentum is displaying positive signs, as indicated by the Ichimoku Cloud. Trading above the cloud suggests a bullish sentiment, providing further support for XRP's price and setting the stage for surpassing key resistance levels, potentially triggering a significant rally.

Looking ahead, XRP is currently priced at $2.67, aiming to solidify $2.70 as a support level to sustain its upward trend and confirm the ascending wedge pattern. Despite the pattern's bearish nature, XRP still has room for growth before encountering a major correction.

Maintaining the $2.70 support could propel XRP past the $3.40 resistance, marking a new ATH for the altcoin. Securing $2.95 as a support level is crucial for the rally to continue, a scenario supported by current market sentiment and technical indicators.

Failure to hold $2.70 as support may lead to a drop to $2.33, disrupting the bullish outlook and potentially delaying the coin's path to a new ATH. This emphasizes the importance of ongoing support from LTHs and market conditions in driving XRP towards higher price levels.