XRP ALERT!
Strategic pullback or goodbye to $3.50?
The price struggles after a technical jump, but a six-year pattern and ETFs still point to an explosive target of $6 (Or More!)
#xrp experienced a roller coaster in the last 24 hours, trading in a wide range of $0.11, between $3.46 and $3.57. After a bullish push that took the price to a session high of $3.57 with a volume of 106.4 million, a strong profit-taking caused a pullback to $3.46, resulting in a 3% swing.
This late drop broke the key support at $3.50, a level that had been tested several times overnight. Trading volume surged as institutional flows reacted to a confluence of catalysts: the advancement of U.S. cryptocurrency legislation (such as the recent GENIUS Act), the approval of new ETFs (including those incorporating XRP), and the much-anticipated completion of a six-year technical pattern suggesting massive breakout potential.
Despite the short-term pullback, market analysts maintain a firm long-term price target for XRP between $6 and $15. However, they also warn about the risk of short-term consolidation as the asset absorbs recent gains and selling pressure.