XRP's price has retreated below $3, trading around $2.80-$2.81 following a market-wide liquidation event described as the largest of the year.
Technical indicators are signaling bearish momentum, with key support at $2.70 and resistance at $3.00. The daily MACD has formed a bearish cross, and rising sell volume increases the risk of a breakdown to the next support level at $2.50.
In contrast, some analysts are speculating about a 'flush before rally' scenario, where a minor price dip could precede a significant upward breakout. If XRP surpasses the $3.00 resistance, short-term price targets are $3.50-$4.00, with long-term projections reaching $9.90 or even $20 in extremely optimistic forecasts.
Trading volume has surged 34.45% to $3.36 billion in the past 24 hours, indicating heightened market interest. Positive factors include Ripple Labs' announcement of the RLUSD stablecoin, which contributed to a 13% weekly price increase, and whale movements involving over $150 million in XRP transferred to exchanges, adding short-term volatility.
Fundamentally, XRP remains a mature asset with a market cap of approximately $169 billion and utility in cross-border payments due to its 4-second transaction times. However, regulatory uncertainty from the ongoing SEC case poses a persistent risk to institutional adoption.