Analyst Predicts XRP Price May Drop Below $3 Amid Correction
Following the conclusion of the Ripple-SEC legal battle, XRP surged over 12%, surpassing $3. However, profit-taking has led to a slowdown in price movement.
Price Analysis
- The XRP price broke a descending trendline but faced resistance near $3.4, resulting in a corrective phase.
- Support remains at $3.2, but analysts predict a potential drop to around $2.9, possibly erasing gains above $3.
Future Projections
- A retest of the trendline at approximately $2.9 may serve as a support level for a bullish continuation.
- If this occurs, XRP could rise over 35%, pushing the price above $4 and surpassing the previous peak of $3.84 from 2018.
