XRP underwent a significant 19% price retracement, declining from its multi-year peak of $3.66 to settle at $2.95 amid broader crypto market volatility. This sharp movement triggered substantial liquidations totaling approximately $113.62 million across derivative positions.
Technical indicators preceding the correction revealed overbought conditions, with the Relative Strength Index (RSI) retreating from extreme highs. Market analysts view this pullback as a healthy market recalibration within XRP’s sustained bullish trend rather than signaling a broader reversal.
Despite the short-term volatility, price targets among analysts remain elevated with projections ranging between $7 and $15. Key support levels for XRP include the $3 price point corresponding with the 100-period simple moving average and $2.60 coinciding with the 200-period simple moving average.
Market participants maintain long-term bullish sentiment toward XRP, interpreting the volatility as natural consolidation preceding potential upward momentum. Traders continue monitoring these critical support thresholds as indicators of directional bias.