XRP Trades at $2.81 After 5% Price Decline Amid Market Correction

XRP prices have decreased by over 5% in the last day, currently trading at approximately $2.81. A broader market correction is influencing this decline.

Key Support and Resistance Levels

  • Support level at $2.65, a break below could lead to lows around $2.19.
  • Resistance level at $3.12, closing above this may signal a market bottom and potential rally towards $3.60.
  • Current all-time high for XRP is $3.84.

XRP

Long-Term Bullish Outlook

  • XRP exhibits a long-term bullish cycle with structural traits indicating potential future gains.
  • The altcoin recently emerged from a bull pennant formation, suggesting continued uptrend.
  • A breakthrough past the resistance at $3.84 may target a projected price of $17, equating to a potential 525% gain.

Despite recent volatility, XRP has seen a monthly gain of 22.18%, indicating some investors remain profitable.

XRP