XRP sell-off pushes price below $3 – Is the rally over?

Key Points

1. XRP dropped below $3 after failing to break past a key resistance level, driven by profit-taking rather than panic selling.

2. The RSI plunged to 29, indicating strong bearish pressure, while the OBV showed a steep decline, signaling aggressive selling.

3. A liquidation heatmap revealed a bull trap near $3.20, where leveraged positions were flushed out as the price reversed.

4. The absence of significant support zones below $3 suggests weak bullish defense, increasing the risk of further declines below $2.90.

5. Exchange inflows above $3.40 were followed by strategic selling, limiting chances of a quick recovery.