XRP slides below $3: How low can the price go next?

4 hours ago

Key takeaways:

XRP risks a 15% driblet toward $2.60 if it loses the $3 support.
Over $500M successful agelong liquidations beneath $3 could accelerate the sell-off.

XRP (XRP) has repeatedly breached supra the $3 level since its November 2024 boom, but each effort has ended successful a fakeout followed by deeper corrections.

On Saturday, its terms erstwhile again slipped beneath its $3 support, coinciding with its 200-4H exponential moving mean (EMA; greenish wave).

Can the XRP terms diminution adjacent further successful the coming days? Let’s examine.

XRP illustration fractal puts 15% correction successful play

XRP is mirroring a bearish fractal that whitethorn trigger a 15% driblet toward $2.60 successful the coming days.

In September, the token’s terms formed a rounded top, past slipped into a play of symmetrical triangle consolidation earlier breaking down sharply. That determination sent XRP prices tumbling toward the $2.70 area.

A akin series is playing retired again successful October.

On the four-hour chart, XRP has formed different rounded apical and is consolidating wrong a bearish flag. This operation often leads to different limb little by arsenic overmuch arsenic the maximum region betwixt its precocious and little trendlines.

The four-hour relative spot indicator (RSI) contributes to this risk, arsenic it has been correcting from overbought levels supra 70 and inactive has country to diminution earlier the oversold threshold of 30.

XRP whitethorn archetypal trial emblem enactment astatine $2.93. A decisive adjacent beneath it could corroborate a breakdown, perchance opening the mode to $2.60, a diminution of astir 15% from existent prices.

That downside people aligns with XRP’s 200-day EMA (the bluish question successful the illustration below).

A bounce from 20- ($2.93) oregon 50-day ($2.52) EMAs whitethorn invalidate the bearish outlook, prompting a rebound toward $3 again.

$500 cardinal agelong compression tin substance the XRP sell-off

XRP’s $3 level sits close successful betwixt 2 dense liquidity pockets, according to information assets CoinGlass.

On the upside, determination are heavy clusters of agelong liquidation levels betwixt $3.18 and $3.40.

For instance, astatine $3.18, the cumulative abbreviated leverage is astir $33.81 million, suggesting the marketplace could determination upward to trigger halt orders if bulls regain control.

On the downside, however, the heatmap highlights adjacent larger liquidation pools stacked betwixt $2.89 and $2.73, of implicit $500 million.

XRP’s decisive adjacent beneath $3 could trigger a cascade of agelong liquidations toward $2.89–$2.73. Holding supra $3, however, leaves country for a stop-run to $3.20–$3.40.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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