XRP Falls Below $3 Amid Profit-Taking and Selling Pressure, Further Declines Possible Without Renewed Demand
Main Idea
XRP's price fell below $3 due to a failed breakout attempt and profit-taking, with technical indicators signaling strong bearish momentum and potential further declines.
Key Points
1. XRP failed to sustain gains above the $3 resistance level, reversing from a local high near $3.15.
2. The Relative Strength Index (RSI) dropped to 29, indicating strong bearish pressure and oversold conditions.
3. On-chain data shows increased XRP inflows to exchanges, driven by profit-taking rather than panic selling.
4. Binance’s liquidation heatmap highlights a concentration of liquidations above $3.20, suggesting a bull trap.
5. Technical indicators like the OBV (On-Balance Volume) confirm aggressive selling pressure, with short-term support near $2.90 at risk.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! XRP has fallen
Latest News
- XRP Near $3 Amid Market Volatility, Possible Support Levels and Institutional Interest Explored2025-08-02 11:02:24
- Bitcoin ETFs May Face Outflows Despite Strong July Gains and Regulatory Advances2025-08-02 11:02:05
- Trump Media’s Alleged Bitcoin Strategy Faces Scrutiny Amid Lack of Official Confirmation2025-08-02 10:36:02
- Ripple CTO Suggests Potential High-Quality Hub Addition to XRP Ledger Network2025-08-02 10:35:43
- Trump Media & Technology Group Amasses Nearly $2 Billion in Bitcoin Reserves, Reports Strong Q2 Financial Growth2025-08-02 10:34:50