XRP price can see 'quick' run to new all-time highs if price breaks $3

Key Points

1. XRP price dropped 7.6% to $2.80 after hitting a five-month high above $3, with $3 being a crucial resistance level for further gains.

2. Historically, rejection from $3 has led to significant price declines, such as a 46% drop in March.

3. Breaking $3 could lead to new all-time highs, with the next target at $3.40, according to analyst CasiTrades.

4. The Binance liquidation heatmap shows key liquidity zones at $3.04-$3.14, which could trigger a squeeze if $3.04 is broken.

5. Open interest in XRP futures has risen 121% since June 23, reaching $8.11 billion, indicating increased leveraged positions.