Ripple price prediction: XRP faces the risk of falling to $3, is the demand strong enough to prevent the decline?

Ripple (XRP) has been in a continuous pullback from its historical high, currently reporting at 3.20 USD in the Asian early trading session today (24). Due to the asset accelerating too quickly in a short period, failing to maintain its bullish momentum may trigger a wave of profit-taking from short-term traders. So, what are the key support and resistance levels to watch in the near future? Let's analyze the technical charts to find out.

XRP Price Analysis

XRP has failed to break through the 3.66 USD resistance level in the past few days, triggering a pullback that has dragged the price below 3.40 USD.

The XRP/USDT currency pair may continue to drop towards the 20-day Exponential Moving Average (EMA) at $2.99, which is a key level to watch. A significant rebound from the 20-day EMA would indicate that buying pressure at lower levels remains strong.

In this case, the bulls will try to push the price back to $3.66. If this resistance level is broken, the upward momentum may extend to $4.00, followed by $4.86.

However, if the price continues to decline and falls below the 20-day EMA, the aforementioned positive outlook will be invalidated, which may indicate that the previous breakout at $3.40 was just a "bull trap."

(XRP daily chart, source: Trading View)

Currently, the XRP/USDT trading pair has fallen below the support level of 3.34 USD, indicating that bears are seeking to regain control of the market. The next support level is at 3 USD, with further declines down to 2.80 USD.

If the price rebounds from the support level and breaks through the moving average line, it indicates that the pullback has ended and the price may rise to $3.66.

On the contrary, if the recovery stagnates at the 20-day moving average (EMA), it indicates a shift in market sentiment—from buying on pullbacks to selling on rebounds. The risk of further decline to the $2.60 area will increase, and the main upward trend may be delayed.

(XRP 4-hour chart, source: Trading View)

XRP-6.57%
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