$XRP
🚨XRP Price Forecast: Can Bulls Reclaim Momentum Above $3.50?🚨
XRP price action is consolidating around $3.01 at press time, with the latest retracement reflecting both profit-taking and heavy short positioning.
Technical indicators highlight the indecision. The short-term moving averages are converging, with the 5-day SMA ($2.99) and 13-day SMA ($3.05) creating a narrow zone of resistance. The MACD remains in negative territory, showing weak bullish momentum and signaling caution for buyers.
On the bullish side, XRP must reclaim the $3.10 range with conviction to challenge $3.50 again. A breakout above $3.50 would open the path to $3.84, the level rejected last week, and potentially extend toward $4.00 if renewed institutional interest follows the recent SEC settlement.
In a bearish scenario, failure to hold $3.00 could expose XRP to downside risks toward $2.88, with deeper losses targeting the $2.70 support level, where a significant rebound occurred in early August. Until a decisive move unfolds, traders can expect range-bound action, with short positioning amplifying volatility in both directions.