XRP is currently experiencing a corrective phase as its price tests crucial support thresholds amid broader cryptocurrency market weakness. The digital asset’s USD pairing has declined approximately 1.17% over the past day while evaluating the pivotal support level at $3.4115.
Market analysts indicate that a daily close below the $3.4115 threshold could activate near-term bearish momentum toward the $3.35 price point. Should selling pressure intensify, further downside toward the substantial $3.00-$3.20 support range remains a distinct possibility.
The current price consolidation around $3.40 is perceived as a critical technical pivot point. Sustained trading beneath this level would signal strengthening downward momentum and potentially validate extended correction expectations.
Traders are advised to monitor these technical support zones closely while referencing reliable market analysis resources for timely updates. Broader cryptocurrency market conditions continue contributing to XRP’s ongoing price recalibration.