XRP threatens drop to $3: Will bulls step in to buy the dip?

Key Points

1. XRP rose to a multi-year high above $3.66, but failure to sustain this level led to a pullback below $3.40.

2. The XRP/USDT pair may drop to the 20-day exponential moving average ($2.99), a critical support level.

3. A rebound from the 20-day EMA could push the price back to $3.66, with potential targets at $4 and $4.86 if resistance is broken.

4. If the price breaks below the 20-day EMA, it may indicate a bull trap, leading to further declines to $3, $2.80, or even $2.60.

5. The 4-hour chart shows a drop below the $3.34 support, with potential downside targets at $3 and $2.80.