XRP has experienced a notable 4% price drop over the last day, trading at $3.1947 amid signs of an emerging market correction. This decline follows a false breakout of the critical local support level at $3.1618, indicating bearish pressure on the cryptocurrency.
Technical analysts anticipate potential recovery toward the $3.25 resistance zone should daily candlestick patterns close favorably. However, intensifying bearish signals suggest limited upside momentum as trading volume decreases and bulls lose initiative in the current market.
The immediate outlook predicts continued sideways movement for XRP between the $3.00 and $3.20 thresholds throughout the coming week. Market observers highlight weakening bullish control and diminishing trading activity as key factors supporting this consolidation forecast.