XRP is undergoing a market correction with analysts warning of potential further declines toward $3.10 and possibly $3.00 as bearish signals emerge. This movement signals cautious trading sentiment amid broader market uncertainty.
The cryptocurrency recorded a 0.8% price drop over the last 24 hours, confirming a short-term bearish trend. Technical indicators show a critical breakdown below the $3.2319 support level on hourly charts, suggesting sustained downward momentum.
Market observers warn that if the weekly candle closes below the psychologically significant $3.00 threshold, selling pressure could intensify. Such a scenario might push XRP toward the $2.80 support area.
At press time, XRP trades at $3.1569 as market participants cautiously test the $3.00 support level. Traders are advised to monitor key technical levels at $3.10 and $3.00 while implementing stop-loss orders to mitigate downside risks.