$XRP

currently in a tight spot. After an impressive rally that took its price close to previous highs, the token has now slipped below a key support level, raising questions about its short-term direction.

XRP is still holding onto a bullish structure. It continues to form higher highs and higher lows, which is generally a sign of strength. This means that despite the short-term pullback, XRP hasn’t yet confirmed the start of a bear market. In fact, as long as the price stays above critical support levels, the longer-term outlook remains intact.

Recent Price Action and Support Levels

In the short term, XRP has broken below the $3.40 mark, which had acted as a strong support level for over a week. So, where does XRP go from here? One scenario is a period of consolidation, where the price moves sideways within a range. Support is now sitting around $2.90 to $3.00, which has held up in previous corrections. On the upside, resistance is expected around $3.30 to $3.40, the same zone that recently flipped from support to resistance.