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XRP (XRP) has repeatedly broken the level of $ 3 since its November 2024 rise, but each attempt has ended in a falsification followed by deeper corrections.
On Saturday, its price once fell below its $ 3 support, coinciding with its 200-4h (Ema; Green Wave).
Can the XRP price decrease even more in the next few days? Let’s examine.
Fractal XRP chart puts 15% correction at stake
XRP is reflecting a bearish fractal that can trigger a 15% drop around $ 2.60 in the next few days.
In September, the price of Token formed a rounded upper part, then slid in a period of consolidation of the symmetrical triangle before decomposing sharply. That movement sent XRP prices falling to the $ 2.70 area.
A similar sequence is developing again in October.
In four hours, XRP has formed other rounded upper part and is consolidating inside a bass flag. This structure leads to another lower leg as the maximum distance between its higher and lower tendency lines.
The four -hour relative resistance indicator (RSI) contributes to this risk, since it has bone correction of overcompra levels above 70 and still has room to decrease before the overall or 30 threshold.
Related: The XRP price claims $ 3, opening the way for 40% profits in October
XRP can try the first support flag at $ 2.93. A decisive closure below could confirm a breakdown, opening the way to $ 2.60, a decrease of almost 15% of current prices.
That disadvantage objective is aligned with the 200 days xrps (the blue wave in the table below).
A rebound of 20- ($ 2.93) or 50 days ($ 2.52) EMAS can invalidate the bearish perspectives, which causes a rebound to $ 3 again.
$ 500 million long tightening can feed the sale of XRP
The XRPS $ 3 level is fair between two heavy liquuidity pockets, according to the data resources coil.
On the positive side, there are thick groups of long levels of liquidation between $ 3.18 and $ 3.40.
For example, at $ 3.18, the short cumulative leverage is approximately $ 33.81 million, market suggestion could move up to activate arrest orders if bulls regain control.
On the negative side, howling, the heat map highlights the equally largest stacked liquidation pools between $ 2.89 and $ 2.73, or at $ 500 million.
XRPS decisive close below $ 3 could trigger a waterfall of long liquidations towards $ 2.89– $ 2.73. However, keeping above $ 3 leaves space for a stop at $ 3.20– $ 3.40.
This article does not contain advice or investment recommendations. Each investment and trade movement implies risk, and readers must carry out their own investigation by making a decision.
