$XRP is showing signs of weakness and is likely to fall below $3.00. After weeks of consolidation, the asset is finding it difficult to hold onto its positions, and current price dynamics indicate that sellers may soon take control. Given the lack of strong support below the current level, further declines are likely in the near future. The current price of $XRP , $3.07, is down about 1.61% from the previous session. The price has crossed a crucial threshold and the loss of bullish momentum is evident.
is showing signs of weakness and is likely to fall below $3.00. After weeks of consolidation, the asset is finding it difficult to hold onto its positions, and current price dynamics indicate that sellers may soon take control. Given the lack of strong support below the current level, further declines are likely in the near future. The current price of , $3.07, is down about 1.61% from the previous session. The price has crossed a crucial threshold and the loss of bullish momentum is evident.
Buyers can try to stabilize the price at $2.90, which is the nearest support. The next important region, which corresponds to the 50 EMA, is around $2 to $60 if XRP dips below this level.
However, the gap between these support levels and the current price is a concern. Since XRP is not holding back much from revisiting $2.12, which is the 100 EMA, a sharp drop below $3.00 could lead to a much deeper correction. This scenario is more likely due to falling volumes and increasing selling pressure. Bulls have been disappointed with XRP’s recent failure to break above $3.30. The price is now at risk of breaking out as there is not enough momentum to move higher.