XRP to Drop Below $3? Price Makes Unexpected Move
2025-01-31
Category: None

XRP is exhibiting signs of weakness, and it appears more likely that it will fall below $3.00. After weeks of consolidation, the asset is finding it difficult to maintain its position, and the current price action indicates that sellers may soon seize control. Given the lack of strong support below the current level, a further decline might happen soon.
The current price of XRP, $3.07, is down about 1.61% from the previous session. The price has been circling a crucial threshold, and the loss of bullish momentum is obvious. Buyers may try to stabilize the price at $2.90, which is the closest support. The next crucial region that corresponds to the 50 EMA is around $2 to $60 if XRP drops below this level.XRPUSDT Chart by TradingView">
The gap between those support levels and the current price, however, is concerning. Since there is not much holding XRP from revisiting $2.12, which is the 100 EMA, a steep decline below $3.00 could result in a much deeper correction. This scenario is more likely due to the falling volume and growing selling pressure. Bulls have been frustrated by XRP's recent inability to break above $3.30. The price is currently at risk of breaking since there is not enough momentum to drive it higher.
The downward slope indicates a drop in buying interest, even though the RSI is still above 60. Another factor that lends credence to the prospect of a price decline is the declining volume. A recovery is still possible if the asset can recover $3.20. A decline below $3.00, however, would probably confirm a bearish reversal if the market is unable to recover from its current levels.
With a possible collapse imminent, XRP is at a turning point. A sharp decline toward $2.60 or even $2.12 could result from a drop below $3.00. A deeper correction is quite possible because of the weak support below it. Bulls must intervene quickly or XRP's downward trend could pick up speed in the upcoming sessions.