🔵 $XRP remains above $3.20 despite technical correction: Is a rebound underway?
📊 Current price and clear technical structure
XRP is trading at $3.21, with a range between $3.16 and $3.23 in the last 24 hours. Despite the drop from its weekly peak of $3.57, the price has consolidated just above the key technical support, forming a solid base for potential reversals.
⚙️ Key factors
+0.8% in the last 24 hours although it has accumulated a -9% in the last week.
Mass liquidations were recorded: +89M $XRP in forced shorts, mainly on South Korean exchanges like Upbit, following the previous rise from $3.50.
Transfer of 50M XRP (~$175M USD) attributed to Chris Larsen (co-founder of Ripple) to exchanges, which generated technical selling pressure this week.
🔧 Technical level of the day
📌 Key support: $3.16–$3.18
📌 Immediate resistance: $3.23–$3.25
🎯 Critical zone: maintaining above $3.18 would pave the way for a technical rebound towards $3.40–$3.50, although a drop below $3.16 could accelerate pressure towards $2.95+
🌐 Institutional outlook / macro view
XRP remains a central piece within institutional portfolios. Although a technical correction seems imminent, many analysts consider it “healthy,” as it cleans excessive long positions following a 19% rise, keeping prospects for new highs intact if it recovers above $3.50–$3.60.
Do you see this drop as an opportunity to accumulate XRP below $3.20 or do you prefer to wait for confirmation of a rebound above $3.25? Comment below 👇
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